How does Mississippi treat Net Operating Loss (NOL)?
A net operating loss for any taxable year ending after December 31, 2001 and taxable years thereafter, shall be a net operating loss carryback to each of the two taxable years preceding the taxable income of the loss. If the net operating loss for any taxable year is not exhausted by carrybacks to the two taxable years preceding the taxable year of the loss, then there shall be a net operating loss carryover to each of the twenty taxable years following the taxable year of the loss beginning with any taxable year after the taxable year of the loss.
