S 2650
110th Congress
Senate
Taxation
Income tax
Losses
Minimum tax
Tax deductions
A bill to provide for a 5-year carryback of certain net operating losses and to suspend the 90 percent alternative minimum tax limit on certain net operating losses.
Introduced: February 14, 2008
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 14, 2008
Read twice and referred to the Committee on Finance.
Feb 14, 2008
Sponsor introductory remarks on measure. (CR S1067)
Feb 14, 2008
Introduced in Senate
Plain-English summary
Amends the Internal Revenue Code to: (1) allow a five-year carryback of net operating losses for taxable years beginning or ending during 2006, 2007, or 2008; and (2) suspend the 90% alternative minimum tax limitation on carrybacks and carryovers of net operating losses in such years.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1
Cosponsors
1