ENROLLED
ACT No. 24
2016 First Extraordinary Session
HOUSE BILL NO. 116
BY REPRESENTATIVE IVEY
1 AN ACT
2 To amend and reenact R.S. 47:287.86(C)(2), relative to the net operating loss deduction; to
3 provide for the order of loss years from which a net operating loss may be carried
4 over; to provide for an effective date; and to provide for related matters.
5 Be it enacted by the Legislature of Louisiana:
6 Section 1. R.S. 47:287.86(C)(2) is hereby amended and reenacted to read as follows:
7 ยง287.86. Net operating loss deduction
8 * * *
9 C. Manner and amount of carryovers. For all claims for this deduction on
10 any return filed on or after July 1, 2015, regardless of the taxable year to which the
11 return relates, the entire amount of Louisiana net loss for any taxable year,
12 hereinafter the "loss year", shall be carried over to the earliest of the taxable years
13 allowed. The portion of such loss which shall be carried to each of the other taxable
14 years allowed by Subsection B shall be the excess, if any, of the amount of such loss
15 over the aggregate of the Louisiana taxable income for each of the taxable years to
16 which such loss may be carried. For the purposes of this Subsection:
17 * * *
18 (2) In calculating the aggregate Louisiana taxable incomes in cases where
19 more than one loss year must be taken into account, the various net operating loss
20 carryovers to such taxable year are considered to be applied in reduction of
21 Louisiana net income in the order of the taxable years from which such losses are
22 carried over, beginning with the loss for the earliest most recent taxable year.
23 * * *
Page 1 of 2
CODING: Words in struck through type are deletions from existing law; words underscored
are additions. HB NO. 116 ENROLLED
1 Section 2. The provisions of this Act shall become effective on January 1, 2017.
SPEAKER OF THE HOUSE OF REPRESENTATIVES
PRESIDENT OF THE SENATE
GOVERNOR OF THE STATE OF LOUISIANA
APPROVED:
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions.