HB 1212 -- Income Tax:  Net Operating Loss

Sponsor:  Cooper (120)

This bill clarifies the current process for claiming net
operating losses in the computation of state income tax.  The
bill allows any net operating losses claimed on the federal tax
return but not allowed on the Missouri tax return after June 18,
2002, to be carried forward to future tax years.  The bill also
clarifies that losses may be taken against future income of the
taxpayers.

Missouri House of Representatives
92nd General Assembly, 2nd Regular Session
Last Updated September 23, 2004 at 11:15 am