Imposes temporary $1 million cap on use of net operating loss deductions under corporation business tax for certain privilege periods.

Summary

The bill sets a temporary $1 million limit on how much a corporation can deduct from its net operating losses under the corporation business tax. It applies only to certain privilege periods defined by the law. The cap is intended to restrict large loss deductions for a limited time.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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