Important Changes in Computing Net Economic Loss
Date: August 17, 2012
The North Carolina Department of Revenue has issued new guidance regarding changes in the calculation of Net Economic Loss (NEL) for businesses.
North Carolina General Statute 105-130.8 allows a deduction to a corporation that has sustained a net economic loss in any or all of the 15 preceding income years. The purpose of allowing the deduction is to grant some financial relief to a corporation that has incurred economic misfortune.
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