Mar. 24, 2009 - Net Operating Loss Carry for Small Businesses

The recently enacted American Recovery and Reinvestment Act of 2009 (the Stimulus Act) includes a provision that extends the normal two-year carryback period for NOLs to as much as five years for 2008 NOLs of Eligible Small Businesses (ESBs). This provision was intended to throw a lifeline to struggling businesses, providing them with an infusion of cash by allowing them to cash in on taxes they paid while the economy was booming.

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