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#1
11-24-2021, 07:47 AM
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NOL DTA - Consolidated Return
We have two life companies that comprise our life group on our consolidated tax return. One of the companies has a small NOL this year that will be offset against the other life company income for a net gain for the life group.
My question is how do we report this on the provision for the NOL company. Do we report the NOL as a DTA even though it's being offset on a consolidated basis? If we do report the NOL, do we show it as reversing in 1 year and then reverse the whole thing out as provision-to-return adjustment when the return is filed? Thanks! 
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#2
11-30-2021, 01:23 PM
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Rebecca,
Yes, report the NOL as a DTA on the NOL company's tax provision regardless of how it might be used on the consolidated return. Statutory provisions are to be done on a standalone basis. See also the guidance provided in SSAP 101, footnote 2 to paragraph 7. Q&A #8 may also prove helpful. Regards, Lisa Mullen Regulatory Education Director
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