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California Lifts Suspension of the Use of NOLs

In June 2020, California lawmakers passed legislation that limited use of net operating losses (NOLs) for California taxpayers with net business income of $1 million or more for the tax years 2020, 2021, and 2022. In addition, the amount of business tax credits that could be used in a year to offset California tax was limited to $5 million for the same tax years. (See related Wilson Sonsiniโ€ฆ
United States Greg Broome Wilson Sonsini Myra Sutanto Shen W Sgr Ilson Sonsini Goodrich Amp Rosati
Source: wsgr.com

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