A bill to amend the Internal Revenue Code of 1954 with respect to the net operating loss deduction allowable in the case of certain taxpayers.

Summary

Amends the Internal Revenue Code to allow certain large businesses with severe long term losses a five-year carryback and five-year carryover period for net operating losses.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 18 July 1977

   Introduced

   Referred to Senate Committee on Finance.

   Source: IntroReferral

2. 18 July 1977

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in Senate

  summary · EN · 18 July 1977

  Open at official source

Sponsors

• Sen. Helms, Jesse [R-NC] · R · Sponsor
• Sen. Morgan, Robert B. [D-NC] · D · Cosponsor
• · ssfi00 · Standing

Related records

• related to → A bill to amend the Internal Revenue Code of 1954 with respect to the net operating loss deduction allowable in the case of certain taxpayers.