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Bill Detail: HB20-1205

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Title Pre-1987 Net Operating Loss Deduction
Status Governor Signed (03/20/2020)
Bill Subjects
  • Fiscal Policy & Taxes
House Sponsors H. McKean (R)
Senate Sponsors D. Moreno (D)
House Committee Business Affairs and Labor
Senate Committee Business, Labor and Technology
Date Introduced 01/30/2020
Description

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.

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Fiscal Notes Fiscal Notes (02/10/2020) (most recent)  
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