woman working on a laptop

The Status Of NOLS Following The TCJA And California A.B. 91

The Tax Cuts and Jobs Act (TCJA) has officially been in place for two years now. It lowered the corporate income tax rate from 35% to 21% and provided a 20% deduction for qualified business income (QBI). However, the law also instituted new changes regarding net-operating loss (NOL) carryback and carryforward rules.