To amend the Internal Revenue Code of 1986 to except certain individuals from the 80 percent taxable income limitation on net operating loss carryovers.
Summary
This bill exempts taxpayers whose modified adjusted gross income does not exceed $400,000 in a taxable year from the 80% taxable income limit on net operating loss carryovers.
Bill status
in committee
1 of 4 stages cleared
Introduction
Apr 2021
Committee Review
Floor Vote
President
Introduced Apr 12, 2021
Last action Apr 12, 2021
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
2
Key actions
0
Committee
1
Apr 12, 2021
Committee
Referred to the House Committee on Ways and Means.
lower
Apr 12, 2021
Introduced
Introduced in House
lower
1 primary · 0 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Marie Newman
DDemocratic
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