Indiana § 6-3-1-40 "Separately stated net operating loss"

Indiana Statutes

§ 6-3-1-40 — "Separately stated net operating loss"

Indiana § 6-3-1-40

Art. 3STATE INCOME TAXES

Ch. 1Definitions

This text of Indiana § 6-3-1-40 ("Separately stated net operating loss") is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 6-3-1-40 (2026).

Text

(a)The term "separately stated net operating loss" means a federal net operating loss, or a portion of a federal net operating loss, determined according to the Internal Revenue Code that is:

(1)computed as an allowable federal net operating loss with regard to a taxable year; and

(2)required to be carried forward or carried back under the Internal Revenue Code; regardless of whether the taxpayer had federal taxable income for the year of the loss.

(b)A separately stated net operating loss for a taxable year includes:

(1)an excess business loss for the taxable year under Section 461(l) of the Internal Revenue Code;

(2)a federal net operating loss for a trade or business that is not allowable in the taxable year in which the loss was incurred as a result of the application of Section

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(a) The term "separately stated net operating
loss" means a federal net operating loss, or a portion of a federal net
operating loss, determined according to the Internal Revenue Code that
is:
(1) computed as an allowable federal net operating loss with
regard to a taxable year; and
(2) required to be carried forward or carried back under the
Internal Revenue Code;
regardless of whether the taxpayer had federal taxable income for the
year of the loss.
(b) A separately stated net operating loss for a taxable year includes:
(1) an excess business loss for the taxable year under Section
461(l) of the Internal Revenue Code;
(2) a federal net operating loss for a trade or business that is not
allowable in the taxable year in which the loss was incurred as a
result of the application of Section 512(a)(6)(C) of the Internal
Revenue Code, with the federal net operating loss determined
separately for each trade or business; and
(3) a federal net operating loss that is not affected by excess
inclusion income under Section 860E of the Internal Revenue
Code.
(c) For purposes of IC 6-3-2-2.5 and IC 6-3-2-2.6, a separately
stated net operating loss must be expressed as a negative number.