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Pa. Justices Partially Strike Cap On Net Loss Carryovers

By James Nani (October 18, 2017, 10:54 PM EDT) -- Pennsylvania's highest court on Wednesday said Nextel Communications could not use prior operating losses to reduce its 2007 corporate taxable income to zero, ruling the Pennsylvania Department of Revenue does not have to refund the company $3.9 million and finding the state's cap on "net loss carryover" deduction violated the state Constitution's tax uniformity clause....

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