2.203 -Net Operating Loss Carry-Over

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

Key:

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.