| Item | Description | FY2010 | FY2011 | FY2012 |
|---|---|---|---|---|
| 2.203 | Net Operating Loss Carry-Over
There has been a statutory expansion of the general NOL carry-forward period from 5 to 20 years for business corporations, for taxable years beginning on or after January 1, 2010. There has also been a change to the calculation of an NOL carry-forward, and for tax years beginning on or after January 1, 2010; all carry-forward losses of an eligible business corporation are to be carried forward on a post-apportioned basis, applying the apportionment percentage of the corporation for the taxable year in which the loss is sustained. See TIR 10-15 for details: Origin: IRC, S. 172, M.G.L. c. 63, S. 30(5)(b), TIR 10- 15. Estimate: $91.6 |
98.5 | 93.6 | 91.6 |
| ORIGIN | |
| IRC | Federal Internal Revenue Code (26 U.S.C.) |
|---|---|
| M.G.L. | Massachusetts General Laws |
| U.S.C | United States Code |
| ESTIMATES | All estimates are in $ millions. |