Louisiana Governor Has Now Signed Law Removing 20-Year Carryover Limitation on Net Operating Loss (NOL) Deduction for Corporate Income Tax Purposes
Wednesday, June 30, 2021
Louisiana, SB 36, Louisiana  SB 36, net operating losses, net operating losses deduction, Louisiana net operating losses deduction,

Louisiana’s Governor, John Bel Edwards, has now signed into law SB 36 (enacted as Act 459), which eliminates the prior 20-year carryover period limitation imposed on the available deduction for net operating losses (NOLs) for Louisiana corporate income tax purposes.

Act 459 amends La. R.S. 47:287.86(B) to provide that all NOL deductions claimed on any corporate income tax return filed on or after January 1, 2022 for NOLs relating to loss years on or after January 1, 2001 may be carried forward to each taxable year following the loss year until the loss is fully recovered, without restriction.

All other prior requirements of La. R.S. 47:287.86 are still applicable.

A copy of the full text of Act 459 can be found here.


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