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Expert Analysis

Pennsylvania NOL Cap Ruling Presents Taxpayer Challenges

By Jeffrey Friedman, Open Weaver Banks, Charles Capouet and Michael Kerman (November 15, 2017, 11:11 AM EST) -- The Pennsylvania Supreme Court held that the state's flat $3 million cap on net operating loss (NOL) carryforwards violates the state constitution's uniformity clause.[1] Unlike the lower court, however, the Supreme Court left intact the percentage cap that limits NOL carryforwards to 12.5 percent of the taxpayer's net income....

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