S. 293 · 111th Congress
A bill to provide for a 5-year carryback of certain net operating losses and to suspend the 90 percent alternative minimum tax limit on certain net operating losses.
- Stage
- In committee
- Sponsor
- Arlen Specter
- Introduced
- 2009-01-21
- Latest action
- 2009-01-21 · Introduced in Senate
Summary
Amends the Internal Revenue Code to: (1) allow a five-year carryback of net operating losses for taxable years beginning or ending during 2007, 2008, or 2009; and (2) suspend the 90% alternative minimum tax limitation on carrybacks and carryovers of net operating losses in such years.