Indiana Administrative Code — Title 45 (Dept. of State Revenue)
45 IAC 15-9-1
Due date; net operating loss
Sec. 1. (a) In determining the time limitations within which a person may file a claim for refund, the due date of the return shall include
extensions of the due date as provided under IC 6-8.1-5-2.
(b) When claiming a refund arising from a net operating loss, the three (3) year limitation shall be determined by the year in which the net
operating loss is incurred, not the year to which the loss is carried back.
EXAMPLE
A taxpayer has a $50,000 net operating loss in 19X4. The loss is carried back to 19X1, 19X2 and 19X3. The three (3) year limitations
will begin to run on the latter of the due date of the 19X4 return or the date the return for 19X4 is filed.
Amendment history
(Department of State Revenue; 45 IAC 15-9-1; filed Oct 1, 1987, 1:30 pm: 11 IR 543)
Source: view the official text
Nearby sections (25 sections)
- 15-5-4 · Letter of findings
- 15-5-5 · Rehearings
- 15-5-6 · Demand for payment
- 15-5-7 · Statute of limitations on issuance of proposed assessment
- 15-5-8 · Jeopardy assessments
- 15-6-1 · Extensions
- 15-6-2 · Holidays
- 15-6-3 · Date of filing
- 15-7-1 · Disclosure of information
- 15-7-2 · Individual filing returns; disclosure of information
- 15-8-1 · Partial payments
- 15-8-2 · Demand notices; tax warrants
- 15-9-1 · Due date; net operating loss
- 15-9-2 · Statute of limitations for refunds
- 15-10-1 · Joint returns
- 15-11-1 · Liability for interest
- 15-11-2 · Liability for penalty
- 15-11-3 · Preparation of return by the department
- 15-11-4 · Fraudulent intent to evade tax
- 15-11-5 · Bad checks; penalty
- 15-11-6 · Information return
- 16-1-1 · Definitions
- 16-1-2 · Insurance coverage
- 16-1-3 · Intrastate temporary or emergency temporary authority;…
- 16-1-4 · Intrastate permanent authority application without coextensive…