Alabama Administrative Code
Title 810 - ALABAMA DEPARTMENT OF REVENUE
Chapter 810-3-168 - NET OPERATING LOSS DEDUCTION NOT APPLICABLE TO AN ALABAMA S CORPORATION
Section 810-3-168-.01 - Net Operating Loss Deduction For S Corporations

Universal Citation: AL Admin Code R 810-3-168-.01

Current through Register Vol. 42, No. 11, August 30, 2024

(1) No net operating loss carryback or carryforward deduction is allowable for an Alabama S corporation. See Rule 810-3-161-.01 and 810-3-35.1-.01.

(2) No carryforward and no carryback shall arise at the corporate level for a taxable year for which a corporation is an Alabama S corporation.

(3) The taxable year that a corporation is an Alabama S corporation may be considered in determining the number of taxable years which a net operating loss item can be carried back or carried forward.

(4) See also Rule 810-3-174-.02, Built-in Gains Tax.

Authors: Ed Cutter, CPA, Ann Winborne, CPA

Statutory Authority: Code of Ala. 1975, §§ 40-2A-7(a)(5), 40-18-168.

History: Adopted November 13, 1985. Amended: Filed March 31, 2000, effective May 5, 2000.

Disclaimer: These regulations may not be the most recent version. Alabama may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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