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15-4-2404. Net operating loss deduction — Carry forward.
Arkansas Code — all titles (historical 2020) · legal_authorities
15-4-2404. Net operating loss deduction — Carry forward.
(a) Taxpayers qualified for the benefits of this subchapter and entitled to a net operating loss deduction as provided in § 26-51-427 may carry forward that deduction to the next-succeeding taxable year following the year of the net operating loss and annually thereafter for a total period of ten (10) years or until the net operating loss has been exhausted, whichever is earlier.
(b) The net operating loss deduction must be carried forward in the order named in subsection (a) of this section.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 15-4-2404
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Stable record: arkansas_code:legal_authorities:15-4-2404
Source file: gov.ar.code.title.15.odt
Pages: Not recorded – Not recorded
Passage SHA-256: e622478b6db4857a64f0c2bca7dfaadd6cf0f64e64d801f20305d2a8161bde4e
Source location: content.xml paragraph 4236
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15-4-2404. Net operating loss deduction — Carry forward.
(a) Taxpayers qualified for the benefits of this subchapter and entitled to a net operating loss deduction as provided in § 26-51-427 may carry forward that deduction to the next-succeeding taxable year following the year of the net operating loss and annually thereafter for a total period of ten (10) years or until the net operating loss has been exhausted, whichever is earlier.
(b) The net operating loss deduction must be carried forward in the order named in subsection (a) of this section.
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Arkansas Code — all titles (historical 2020) · legal_authorities
26-51-427. Deductions — Net operating loss carryover — Definitions.
In addition to other deductions allowed by this chapter, there is allowed as a deduction from gross income a net operating loss carryover under the following rules:
(1)(A) The net operating loss for any taxable year may be carried over to the next-succeeding taxable year and annually thereafter for a total period of three (3) years next succeeding the year of the net operating loss or until the net operating loss has been exhausted or absorbed by the taxable income of any succeeding year, whichever is earlier, if the net operating loss occurred in an income year beginning before January 1, 1987. The net operating loss deduction shall be carried forward in the order stated in this subdivision (1)(A).
(B) The net operating loss for any year ending on or after the passage of the Income Tax Act of 1929, § 26-51-101 et seq., and for any succeeding taxable year before January 1, 2020, may be carried over to the next-succeeding taxable year and annually thereafter for a total period of five (5) years next succeeding the year of the net operating loss or until the net operating loss has been exhausted or absorbed by the taxable income of any succeeding year, whichever is earlier, if the net operating loss occurred in an income year beginning on or after January 1, 1987, and before January 1, 2020. The net operating loss deduction shall be carried forward in the order stated in this subdivision (1)(B).
(C)(i) For net operating losses occurring in taxable years beginning on or after January 1, 2020, the net operating loss may be carried over to the next succeeding taxable year and annually thereafter for the following number of years next succeeding the tax year of the net operating loss or until the net o
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-51-427
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 26-51-427. This identifies an authority to review, not proof of applicability.