| Item | Description | FY2011 | FY2012 | FY2013 |
|---|---|---|---|---|
| 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. Financial institutions, public utilities, and insurance companies are not allowed to deduct NOL. See TIR 10-15 for details: Origin: IRC, S. 172; M.G.L. c. 63, S. 30.5; TIR 10- 15. Estimate: $90.6 |
92.2 | 90.2 | 90.6 |
| 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. |