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1 Additions and Deductions; Net Operating Loss Deductions. Amend the introductory paragraph of RSA 77-A:4, XIII to read as follows:
XIII. A deduction for the amount of the net operating loss carryover determined under section 172 of the United States Internal Revenue Code apportioned in the year incurred according to RSA 77-A:3. A net operating loss shall only be apportioned in the year incurred and not in the subsequent years it adjusts gross business profits. Net operating losses may only be carried forward for the 10 years following the loss year. For taxable periods ending:
2 Effective Date. This act shall take effect 60 days after its passage.
Text to be added highlighted in green.
1 Additions and Deductions; Net Operating Loss Deductions. Amend the introductory paragraph of RSA 77-A:4, XIII to read as follows:
XIII. A deduction for the amount of the net operating loss carryover determined under section 172 of the United States Internal Revenue Code apportioned in the year incurred according to RSA 77-A:3. A net operating loss shall only be apportioned in the year incurred and not in the subsequent years it adjusts gross business profits. Net operating losses may be carried forward for years following the loss year. For taxable periods ending:
2 Effective Date. This act shall take effect 60 days after its passage.