Alabama Statutes
§ 40-18-168 — “Carryforward” and “Carryback” Provisions
No carryforward and no carryback arising for a taxable year for which a corporation is not an Alabama S corporation may be carried to a taxable year which such corporation is an Alabama S corporation. No carryforward and no carryback shall arise at the corporate level for a taxable year for which a corporation is an Alabama S corporation. Nothing in this section shall prevent treating a taxable year for which a corporation is an Alabama S corporation as a taxable year for purposes of determining the number of taxable years to which an item may be carried back or carried forward.
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Alabama § 40-18-168 (“Carryforward” and “Carryback” Provisions) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
(Code 1975, §40-14-98; Acts 1984, 1st Ex. Sess., No. 84-756, p. 121, §9.)
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