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Net Operating Loss Carry-Back--Extend the five-year net operating loss carry-back for three years (2003 through 2005) and hold taxpayers harmless for AMT. Hopper said the suspension of the tax break for businesses posting losses--called the net operating loss carry forward--has the potential to inflict the most damage, especially on startups and businesses in cyclical industries. United and its subsidiaries, an affiliated group filing a consolidated return, had a net operating loss for each of the tax years in question. |
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