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AR SB108
Bill
Status
5/17/2013
Primary Sponsor
Keith Ingram
Click for details
AI Summary
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Extends net operating loss carryover period from 5 years to 10 years for losses occurring in tax years beginning on or after January 1, 2013.
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Maintains existing 3-year carryover period for losses occurring before January 1, 1987, and 5-year period for losses occurring between January 1, 1987 and January 1, 2013.
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Expands qualified medical company net operating loss carryover to 15 taxable years following the loss year.
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Updates corporate acquisition provisions to allow net operating loss carryovers for up to 10 years if the loss occurred on or after January 1, 2013.
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Makes technical corrections to statutory language and effective for tax years beginning on or after January 1, 2013.
Legislative Description
To Extend The Net Operating Loss Carry-forward Period For Calculating Arkansas Income Tax; And To Make Technical Changes.
Last Action
Sine Die adjournment
5/17/2013