I have a client who is a partner in a partnership with Louisiana income but a loss for 2011. Client is not a resident of Louisiana. Partnership does not pay tax itself, but rather each partnr is responsible for proportionate share. Client has been informed that NOL's are not carried forward to future gains. The basic Louisiana tax return instructions make no mention of NOL carryforwards. What is the real rule here? Can this individual apply the Louisiana NOL to future profits?
Mark
Mark