BIO tax reform lobbying to include net operating loss provisions.
Executive Summary
BIO TAX REFORM LOBBYING WILL ADDRESS NOL CARRY-FORWARDS under Sec. 382 of the tax code, Biotechnology Industry Organization VP- Government Relations Chuck Ludlam said during a presentation on biotechnology tax issues in Washington, D.C. April 9. BIO is studying the change of ownership rule in Sec. 382, which requires a company that changes over 50% of its shareholders to amortize its net operating loss carry-forwards.