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Business & farm
Thanks for this Mike. I'm pretty familiar with NOLs and the forms.
The question was on if I could continue to use my Federal NOLs against future Federal income after having moved to a new state and shut down the SMLLC.
Further research seems to say "Yes - the NOLs stay with the person and not the LLC, at least for Federal rules and income; for CA income, since I will have none and the LLC is no more, the CA NOL would be lost and no further recalculations are required."
‎August 28, 2024
6:39 AM