Pennsylvania Lawmakers, Groups Urge Change to Net Operating Loss

Pennsylvania legislators and business groups are urging the passage of a bipartisan bill that would increase the carryover limitation on net operating losses.

SB 346 would gradually raise the NOL limit from the current level of 40% of taxable income to 80% by 2026, mirroring the federal threshold.

Of states with an NOL limitation, only Pennsylvania and New Hampshire have thresholds under 80%, said Luke Bernstein, president and chief executive officer of the Pennsylvania Chamber of Business and Industry, during a press conference Tuesday. Budget proposals in California and Illinois include language that would restrict the utilization of net operating ...