DIGEST
The digest printed below was prepared by House Legislative Services. It constitutes no part of the
legislative instrument. The keyword, one-liner, abstract, and digest do not constitute part of the law
or proof or indicia of legislative intent. [R.S. 1:13(B) and 24:177(E)]
HB 622 Original 2023 Regular Session Beaullieu
Abstract: For each taxable year beginning on or after Jan. 1, 2023, increases the net operating loss
deduction from 72% to 100% of a corporation's net operating loss carryovers to that year.
Present law relative to corporation income tax authorizes a net operating loss deduction. Provides
that, for any taxable year, there shall be allowed a deduction reducing a corporation's La. net income
in an amount equal to 72% of the corporation's net operating loss carryovers to that year.
Proposed law limits the applicability of the deduction amount allowed by present law to taxable
years beginning prior to Jan. 1, 2023.
Proposed law provides that for all claims for the net operating loss deduction on any return for a
taxable year beginning on or after Jan. 1, 2023, there shall be allowed for the taxable year a
deduction reducing a corporation's La. net income in an amount equal to the full amount of the
corporation's net operating loss carryovers to that year.
Proposed law applies to taxable periods beginning on or after Jan. 1, 2023. Effective upon signature of governor or lapse of time for gubernatorial action.
(Amends R.S. 47:287.69 and 287.86(A))