Governor Deval Patrick's Budget Recommendation - House 1 Fiscal Year 2014

2.203 -Net Operating Loss Carry-Over

Item DescriptionFY2012 FY2013 FY2014
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 eligible business corporations are to be carried forward on a post-apportioned basis, applying the apportionment percentages of the corporations for the taxable year in which the losses are sustained. Financial institutions, public utilities, and insurance companies, which do not belong to regular corporate tax types, are not allowed to deduct NOL.

Origin:  IRC, S. 172; M.G.L. c. 63, S. 30.5; TIR 10- 15.
Estimate:  $122.8
108.2 116.8 122.8


IRCFederal 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.

top of page link top of page