California Revenue and Taxation Code

§ 24416

RTC § 24416 Effective Oct 1, 2025Div. 2 · Part 11 · Ch. 7 · Art. 2

Statute text

Except as provided in Sections 24416.1, 24416.2, 24416.4, 24416.5, 24416.6, and 24416.7, a net operating loss deduction shall be allowed in computing net income under Section 24341 and shall be determined in accordance with Section 172 of the Internal Revenue Code, except as otherwise provided.

(a)(1) Net operating losses attributable to taxable years beginning before January 1, 1987, shall not be allowed.

(2)A net operating loss shall not be carried forward to any taxable year beginning before January 1, 1987.

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Legislative history

Amended by Stats. 2025, Ch. 231, Sec. 98. (SB 711) Effective October 1, 2025.