Hawaii nonresident taxpayer has a rental property in Hawaii that produces a net operating loss to be carried forward. He has no prior Hawaii income to do a NOL carryback. It is anticipated that taxpayer will have a Hawaii NOL for the next several years. Does the taxpayer have to submit to the state of Hawaii a tally of unused NOLs each year in order to keep track of them for future use, or does he just do this on his own and present the data when he begins to use the NOL to offset future Hawaii income?
- posted 6 years ago