Alternative Tax Net Operating Loss - ATNOL
 |
Definition of 'Alternative Tax Net Operating Loss - ATNOL'The excess of deductions allowed over the income recognized for alternative minimum tax (AMT) purposes. It is calculated the same way that net operating losses (NOL) are, but with additional rules covering deductions, exclusions and preferences related to AMT.Section 56 of the Internal Revenue Code (Title 26) permits taxpayers to substitute the net operating loss with ATNOL when calculating alternative minimum tax. The amount of ATNOL that can be deducted when calculating AMT income cannot exceed 90% of the obligation. If ATNOL exceeds this limit it can still be carried back or forward, but the ATNOLD limit will still apply to the carryback or carryforward year. |
 |
Investopedia explains 'Alternative Tax Net Operating Loss - ATNOL'When corporations reach a certain size, they can become subject to an alternative minimum tax. Only years in which a corporation is subject to AMT rules will ATNOL rules also apply.When reporting ATNOL, taxpayers file Form 1045 and Form 6251. |
Related Definitions
Articles Of Interest
-
Combining Your Plan Assets? Not So Fast!
You might reduce the costs of maintaining more than one account, but you could also be forfeiting tax benefits. -
Tax Treatment Of Roth IRA Distributions
Learn the requirements for withdrawing funds tax and penalty free. -
Avoiding IRS Penalties On Your IRA Assets
The best way to avoid additional charges and taxes is to know which transactions have expensive consequences. -
Approved: Paying Online Sales Tax
States will now be allowed to collect sales taxes on purchases made from Internet-based retailers even if the retailer has no physical presence in that state. -
Do Personal Income Tax Cuts Foster Economic Growth?
Studies show that cuts to personal income tax rates will improve tax revenues, but not lead to economic growth. -
Best States For Company Headquarters
Texas, Florida, Virginia and Utah are considered to be some of the best states to do business in. Find out why. -
How Paul Ryan's Proposed Plans Will Affect Americans
Romney's running mate wants to reduce government spending and entitlement programs. What does this mean for the average American? -
Countries With The Highest Tax Rates
Find out how America compares to other nations when it comes to factors such as overall tax burden and total number of hours spent on taxes. -
Best States To Start Your Business In
The best state for your business may not be as obvious as you think. -
If you have a house that is under your company name and you want to sell it back to yourself, do you have to pay capital gains taxes?
The answer to this question really depends on the type of legal entity your business is operated through. Businesses may be operated as any of the following legal entities: Traditional ...
Free Annual Reports