alternative tax net operating loss deduction
Defined in 1 place of the United States Code.
For purposes of subsection (a)(4), the term “alternative tax net operating loss deduction” means the net operating loss deduction allowable for the taxable year under section 172, except that—
(A) the amount of such deduction shall not exceed 90 percent of alternate minimum taxable income determined without regard to such deduction, and
(B) in determining the amount of such deduction—
(i) the net operating loss (within the meaning of section 172(c)) for any loss year shall be adjusted as provided in paragraph (2), and
(ii) appropriate adjustments in the application of section 172(b)(2) shall be made to take into account the limitation of subparagraph (A).
Source
- 1996–200226 U.S.C. § 56Internal Revenue Code · Adjustments in computing alternative minimum taxable income · in this section
For purposes of subsection (a)(4), the term “alternative tax net operating loss deduction” means the net operating loss deduction allowable for the taxable year under section 172, except that—
(A) the amount of such deduction shall not exceed 90 percent of alternate minimum taxable income determined without regard to such deduction, and
(B) in determining the amount of such deduction—
(i) the net operating loss (within the meaning of section 172(c)) for any loss year shall be adjusted as provided in paragraph (2), and
(ii) in the case of taxable years beginning after December 31, 1986, section 172(b)(2) shall be applied by substituting “90 percent of alternative minimum taxable income determined without regard to the alternative tax net operating loss deduction” for “taxable income” each place it appears.
Source
- 1994–199626 U.S.C. § 56Internal Revenue Code · Adjustments in computing alternative minimum taxable income · in this section
For purposes of subsection (a)(4), the term “alternative tax net operating loss deduction” means the net operating loss deduction allowable for the taxable year under section 172, except that—
(A) the amount of such deduction shall not exceed the sum of—
(i) the lesser of—
(I) the amount of such deduction attributable to net operating losses (other than the deduction attributable to carryovers described in clause (ii)(I)), or
(II) 90 percent of alternative minimum taxable income determined without regard to such deduction, plus
(ii) the lesser of—
(I) the amount of such deduction attributable to the sum of carrybacks of net operating losses for taxable years ending during 2001 or 2002 and carryforwards of net operating losses to taxable years ending during 2001 and 2002, or
(II) alternative minimum taxable income determined without regard to such deduction reduced by the amount determined under clause (i), and
(B) in determining the amount of such deduction—
(i) the net operating loss (within the meaning of section 172(c)) for any loss year shall be adjusted as provided in paragraph (2), and
(ii) appropriate adjustments in the application of section 172(b)(2) shall be made to take into account the limitation of subparagraph (A).
Source
- 2002–200526 U.S.C. § 56Internal Revenue Code · Adjustments in computing alternative minimum taxable income · in this section
For purposes of subsection (a)(4), the term "alternative tax net operating loss deduction" means the net operating loss deduction allowable for the taxable year under section 172, except that—
(A) the amount of such deduction shall not exceed the sum of—
(i) the lesser of—
(I) the amount of such deduction attributable to net operating losses (other than the deduction described in clause (ii)(I)), or
(II) 90 percent of alternative minimum taxable income determined without regard to such deduction and the deduction under section 199,1 plus
(ii) the lesser of—
(I) the amount of such deduction attributable to an applicable net operating loss with respect to which an election is made under section 172(b)(1)(H),1 or
(II) alternative minimum taxable income determined without regard to such deduction and the deduction under section 199 1 reduced by the amount determined under clause (i), and
(B) in determining the amount of such deduction—
(i) the net operating loss (within the meaning of section 172(c)) for any loss year shall be adjusted as provided in paragraph (2), and
(ii) appropriate adjustments in the application of section 172(b)(2) shall be made to take into account the limitation of subparagraph (A).
Source
- 2017–201826 U.S.C. § 56Internal Revenue Code · Adjustments in computing alternative minimum taxable income · in this section
For purposes of subsection (a)(4), the term “alternative tax net operating loss deduction” means the net operating loss deduction allowable for the taxable year under section 172, except that—
(A) the amount of such deduction shall not exceed the sum of—
(i) the lesser of—
(I) the amount of such deduction attributable to net operating losses (other than the deduction described in clause (ii)(I)), or
(II) 90 percent of alternative minimum taxable income determined without regard to such deduction and the deduction under section 199,1 plus
(ii) the lesser of—
(I) the amount of such deduction attributable to an applicable net operating loss with respect to which an election is made under section 172(b)(1)(H),1 or
(II) alternative minimum taxable income determined without regard to such deduction and the deduction under section 199 reduced by the amount determined under clause (i), and
(B) in determining the amount of such deduction—
(i) the net operating loss (within the meaning of section 172(c)) for any loss year shall be adjusted as provided in paragraph (2), and
(ii) appropriate adjustments in the application of section 172(b)(2) shall be made to take into account the limitation of subparagraph (A).
Source
- 201826 U.S.C. § 56Internal Revenue Code · Adjustments in computing alternative minimum taxable income · in this section
For purposes of subsection (a)(4), the term “alternative tax net operating loss deduction” means the net operating loss deduction allowable for the taxable year under section 172, except that—
(A) the amount of such deduction shall not exceed the sum of—
(i) the lesser of—
(I) the amount of such deduction attributable to net operating losses (other than the deduction described in clause (ii)(I)), or
(II) 90 percent of alternative minimum taxable income determined without regard to such deduction and the deduction under section 199,1 plus
(ii) the lesser of—
(I) the amount of such deduction attributable to an applicable net operating loss with respect to which an election is made under section 172(b)(1)(H) (as in effect before its repeal by the Tax Increase Prevention Act of 2014), or
(II) alternative minimum taxable income determined without regard to such deduction and the deduction under section 199 1 reduced by the amount determined under clause (i), and
(B) in determining the amount of such deduction—
(i) the net operating loss (within the meaning of section 172(c)) for any loss year shall be adjusted as provided in paragraph (2), and
(ii) appropriate adjustments in the application of section 172(b)(2) shall be made to take into account the limitation of subparagraph (A).
Source
- 2018–present26 U.S.C. § 56Internal Revenue Code · Adjustments in computing alternative minimum taxable income · in this section
For purposes of subsection (a)(4), the term “alternative tax net operating loss deduction” means the net operating loss deduction allowable for the taxable year under section 172, except that—
(A) the amount of such deduction shall not exceed the sum of—
(i) the lesser of—
(I) the amount of such deduction attributable to net operating losses (other than the deduction described in clause (ii)(I)), or
(II) 90 percent of alternative minimum taxable income determined without regard to such deduction and the deduction under section 199, plus
(ii) the lesser of—
(I) the amount of such deduction attributable to an applicable net operating loss with respect to which an election is made under section 172(b)(1)(H),1 or
(II) alternative minimum taxable income determined without regard to such deduction and the deduction under section 199 reduced by the amount determined under clause (i), and
(B) in determining the amount of such deduction—
(i) the net operating loss (within the meaning of section 172(c)) for any loss year shall be adjusted as provided in paragraph (2), and
(ii) appropriate adjustments in the application of section 172(b)(2) shall be made to take into account the limitation of subparagraph (A).
Source
- 2014–201726 U.S.C. § 56Internal Revenue Code · Adjustments in computing alternative minimum taxable income · in this section
For purposes of subsection (a)(4), the term “alternative tax net operating loss deduction” means the net operating loss deduction allowable for the taxable year under section 172, except that—
(A) the amount of such deduction shall not exceed the sum of—
(i) the lesser of—
(I) the amount of such deduction attributable to net operating losses (other than the deduction described in clause (ii)(I)), or
(II) 90 percent of alternative minimum taxable income determined without regard to such deduction and the deduction under section 199, plus
(ii) the lesser of—
(I) the amount of such deduction attributable to an applicable net operating loss with respect to which an election is made under section 172(b)(1)(H), or
(II) alternative minimum taxable income determined without regard to such deduction and the deduction under section 199 reduced by the amount determined under clause (i), and
(B) in determining the amount of such deduction—
(i) the net operating loss (within the meaning of section 172(c)) for any loss year shall be adjusted as provided in paragraph (2), and
(ii) appropriate adjustments in the application of section 172(b)(2) shall be made to take into account the limitation of subparagraph (A).
Source
- 2009–201426 U.S.C. § 56Internal Revenue Code · Adjustments in computing alternative minimum taxable income · in this section
For purposes of subsection (a)(4), the term “alternative tax net operating loss deduction” means the net operating loss deduction allowable for the taxable year under section 172, except that—
(A) the amount of such deduction shall not exceed the sum of—
(i) the lesser of—
(I) the amount of such deduction attributable to net operating losses (other than the deduction described in clause (ii)(I)), or
(II) 90 percent of alternative minimum taxable income determined without regard to such deduction and the deduction under section 199, plus
(ii) the lesser of—
(I) the amount of such deduction attributable to the sum of carrybacks of net operating losses from taxable years ending during 2001 or 2002 and carryovers of net operating losses to taxable years ending during 2001 and 2002, or
(II) alternative minimum taxable income determined without regard to such deduction and the deduction under section 199 reduced by the amount determined under clause (i), and
(B) in determining the amount of such deduction—
(i) the net operating loss (within the meaning of section 172(c)) for any loss year shall be adjusted as provided in paragraph (2), and
(ii) appropriate adjustments in the application of section 172(b)(2) shall be made to take into account the limitation of subparagraph (A).
Source
- 2005–200926 U.S.C. § 56Internal Revenue Code · Adjustments in computing alternative minimum taxable income · in this section