Mississippi Legislature
2002 Regular Session

Senate Bill 3114

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Bill Text

History of Actions

Background

Title

Description: Income taxation; revise net operating loss carryback and carry forward provisions (STC).

Bill Text: [Introduced] [Passed Senate] [Sent to Governor]

History of Actions:

1 02/13 (S) Referred To Finance
2 02/19 (S) Title Suff Do Pass
3 02/26 (S) Passed
4 02/27 (S) Transmitted To House
5 02/28 (H) Referred To Ways and Means
6 03/14 (H) Title Suff Do Pass
7 03/18 (H) Passed
8 03/19 (H) Transmitted To Senate
9 03/20 (S) Enrolled Bill Signed
10 03/21 (H) Enrolled Bill Signed
11 03/27 Approved by Governor

Background Information:

Effective dateJanuary 1, 2002
DispositionLaw
DeadlineRevenue
RevenueYes
Vote type requiredThree/Fifths
Chapter number477

Senate Committee:

House Committee:

Principal Author: Minor

Code Section: A 027-0007-0017

Title: AN ACT TO AMEND SECTION 27-7-17, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT NET OPERATING LOSSES FOR ANY TAXABLE YEAR ENDING AFTER DECEMBER 31, 2001, SHALL BE A NET OPERATING LOSS CARRYBACK FOR EACH OF THE TWO TAXABLE YEARS PRECEDING THE LOSS; TO PROVIDE THAT IF THE NET OPERATING LOSS FOR ANY TAXABLE YEAR IS NOT EXHAUSTED BY CARRYBACKS TO SUCH PRECEDING YEARS, THEN THERE SHALL BE A NET OPERATING LOSS CARRYOVER TO EACH OF THE TWENTY TAXABLE YEARS FOLLOWING THE TAXABLE YEAR OF THE LOSS; AND FOR RELATED PURPOSES.


Information pertaining to this measure was last updated on 03/27/02 at 00:01.

End Of Document
2002/pdf/History/SB/SB3114.htm