California § 17276.3. 17276.3. (Amended by Stats. 2002, Ch. 488, Sec. 2.)

California Statutes

§ 17276.3. — 17276.3. (Amended by Stats. 2002, Ch. 488, Sec. 2.)

California·Code RTC Revenue and Taxation Code - RTC·Div. 2. DIVISION 2. OTHER TAXES·Part 10. PART 10. PERSONAL INCOME TAX·Ch. 3. CHAPTER 3. Computation of Taxable Income·Art. 6. ARTICLE 6. Deductions

(a)Notwithstanding Sections 17276, 17276.1, 17276.2, 17276.4, 17276.5, 17276.6, and 17276.7 of this code and Section 172 of the Internal Revenue Code, no net operating loss deduction shall be allowed for any taxable year beginning on or after January 1, 2002, and before January 1, 2004.

(b)For any carryover of a net operating loss for which a deduction is denied by subdivision (a), the carryover period under Section 172 of the Internal Revenue Code shall be extended as follows:

(1)By one year, for losses incurred in taxable years beginning on or after January 1, 2002, and before January 1, 2003.

(2)By two years, for losses incurred in taxable years beginning before January 1, 2002.

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(a)
Notwithstanding Sections 17276, 17276.1, 17276.2, 17276.4, 17276.5, 17276.6, and 17276.7 of this code and Section 172 of the Internal Revenue Code, no net operating loss deduction shall be allowed for any taxable year beginning on or after January 1, 2002, and before January 1, 2004.
(b)
For any carryover of a net operating loss for which a deduction is denied by subdivision (a), the carryover period under Section 172 of the Internal Revenue Code shall be extended as
follows:
(1)
By one year, for losses incurred in taxable years beginning on or after January 1, 2002, and before January 1, 2003.
(2)
By two years, for losses incurred in taxable years beginning before January 1, 2002.

California § 17276.3. (17276.3. (Amended by Stats. 2002, Ch. 488, Sec. 2.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.