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Deloitte Launches New Tax Data Analytics Tool: State NOL Insight

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by Angela Guess

According to a new press release, “Deloitte today announced ‘State NOL Insight,’ a tax data analytics and visualization solution that enables organizations to address tax planning and compliance requirements related to state net operating losses (‘NOLs’) across multiple entities and state jurisdictions. ‘We see many organizations today relying on large, legacy spreadsheets to keep up with their state net operating losses,’ said Andrew Gold, partner, Deloitte Tax LLP, who specializes in multistate tax services and innovation. ‘By leveraging the power of database technology and data analytics, insight-driven organizations can gain a deeper understanding of their tax data, improve accuracy, make more meaningful decisions, and create more value’.”

The release goes on, “Deloitte’s new State NOL Insight solution is an intuitive, web-based tool that provides users with a number of benefits and features, including a calculation engine to analyze utilization, limitation and expiration based upon state-specific NOL rules, data analytics, and visualization of state NOL data and forecasting, along with separate tracking of state NOLs for tax provision purposes. ‘In designing State NOL Insight we have considered feedback from our clients and our state tax professionals consulting in the area,’ said Gold. ‘The result is a solution that is broad-based in its features, yet also both scalable and flexible.’ State NOL Insight is another example of Deloitte’s commitment to developing and offering innovative technology and data analytics-based insights that enable companies to navigate the complex regulatory and tax reporting environment.”

Read more at PR Newswire.

Photo credit: Deloitte

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