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 for tax years beginning on or after January 1, 2010; all carry-forward losses of eligible business corporations are to be carried forward on a post-apportioned basis, after applying the apportionment percentages of the corporations for the taxable year in which the losses are sustained. For further discussion, see TIR 10-15.
Origin: IRC, § 172; M.G.L. c. 63, § 30.5
Tax Type
Tax Expenditure
Item Number
Item Name
Description
Origin
FY2016
FY2017
FY2018
FY2019
FY2020
Corporate Excise Tax
Deductions from Gross Income
2.203
Net Operating Loss (NOL) Carry-Forward
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 for tax years beginning on or after January 1, 2010; all carry-forward losses of eligible business corporations are to be carried forward on a post-apportioned basis, after applying the apportionment percentages of the corporations for the taxable year in which the losses are sustained. For further discussion, see TIR 10-15.
<a href="http://www.law.cornell.edu/uscode/html/uscode26/usc_sec_26_00000172----000-.html" target="_blank">IRC, § 172</a>; M.G.L. <a href="http://www.mass.gov/legis/laws/mgl/63-30.htm" target="_blank">c. 63, § 30.5</a>
129.9
139.8
150.6
159.5
168.9
Loading...