N.J.A.C. 18:7-5.15 - Net Operating Loss

(a) A net operating loss is the excess of allowable deductions over gross income used in computing entire net income. For privilege periods ending on and after July 31, 2019, see N.J.A.C. 18:7-5.21.

(b) Neither a net operating loss deduction nor any exclusion from entire net income is an allowable deduction in computing a net operating loss.

(c) There is no net operating loss for any year that a New Jersey corporation business tax return is not filed or if filed does not report entire net income as a negative amount.