Section 42 Net Operating Loss Deduction
| Library | Tax Law 2009 |
The consolidated group’s election to carry a loss forward or back is binding on a member of the group filing a separate Missouri income tax return. 12 C.S.R. § 10-2.165(2)(C). In all other respects, the Missouri taxable income of a corporation claiming a net operating loss deduction and filing a separate Missouri and consolidated federal income tax return is determined as if there were no federal consolidated return. Id. SeeKerr-McGee Refining Corp. v. Director of Revenue, No. 93-000717 RI (Mo. Admin...
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