The 2013-15 state budget adopts federal rules for net operating losses for individual income tax. Beginning in 2014, net operating losses can be carried forward 20 years and carried back two years. Previous state law allowed a 15-year carry-forward but did not allow for carry-backs. Carry-forwards allowed for net business losses under the current state corporate tax code are unchanged.
Episode 51: Budget & Income Tax Reform
Kristen Nupson
June 12, 2025
Earlier this year, Governor Evers unveiled his budget proposal ahead of the expiration of the state’s current biennial budget after June 30th. WMC’s General Counsel
