What are the net operating loss carryback and carryforward provisions?
Unless an election is made to forego the net operating loss carryback, the net operating loss must be carried back three (3) years and is available to be carried forward for seven (7) years. This differs from the federal provisions whereas the net operating loss can only be carried back two (2) years and is available for carryforward for twenty (20) years.
Related Questions
- If I carried back a net operating loss two years for federal purposes, am I required to carryback the net operating loss two years for Mississippi purposes?
- If I am filing an amended Mississippi return to carryback a Mississippi net operating loss, what documentation should I include?
- What are the net operating loss carryback and carryforward provisions?
