A 1939 Frame of Mind: Old-School NOL Carryover Rules Prevail in Some States
How Some States Treat Net Operating Losses in Reorganizations
A number of states still require corporations undergoing a merger or reorganization to meet a continuity-of-business-enterprise test before they can carry over net operating losses, a rule that hasn’t been in effect federally since the 1954 Internal Revenue Code was enacted. Ann Holley and Caralee Hall explain.
To read the full article in The Tax Adviser, click: A 1939 Frame of Mind: Old-School NOL Carryover Rules Prevail in Some States.
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