NOL Deduction Determination
The NOL deduction for a year is determined in the following manner:
For Years After Dec. 31, 2020
The sum of -
(A) the aggregate amount of net operating losses arising in taxable years beginning before January 1, 2018, carried to such taxable year, plus
(B) the lesser of -
-
the aggregate amount of net operating losses arising in taxable years beginning after December 31, 2017, carried to such taxable year, or
-
80 percent of the excess (if any) of -
-
taxable income computed without regard to the deductions under this section [IRC Sec 172] and sections 199A and 250 (foreign-derived intangible income), over
-
the amount determined under subparagraph (A).
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