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HB20-1205

Pre-1987 Net Operating Loss Deduction

Concerning the repeal of the pre-1987 net operating loss deduction for individuals, estates, and trusts.
Session:
2020 Regular Session
Subject:
Fiscal Policy & Taxes
Bill Summary

Statutory Revision Committee. Under current law, the pre-1987 net operating loss deduction for individuals, estates, and trusts allows individuals, estates, and trusts to deduct Colorado net operating losses carried forward from tax years beginning prior to January 1, 1987, from their federal taxable income when computing their Colorado taxable income. But the latest year that an individual, estate, or trust could have used the pre-1987 net operating loss deduction and carried forward a net operating loss generated in 1987 was 2002. The bill repeals the deduction.
(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)

Status

Introduced
Passed
Became Law

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Bill Text

  • All Versions (7 )
    Date Bill Type Documents
    03/20/2020 Signed Act PDF
    03/14/2020 Final Act PDF
    03/06/2020 Rerevised PDF
    03/05/2020 Revised PDF
    02/20/2020 Reengrossed PDF
    02/19/2020 Engrossed PDF
    01/30/2020 Introduced PDF