Texas – Changes to a group’s common owner do not terminate temporary credit carryforward, refunds available

State and Local Tax
Effective April 9, 2014, change to a group’s common owner will no longer determine whether the Texas temporary credit for business loss carryforwards terminates. Entities that lost credits under the old policy may request reinstatement of their credits and apply such credits to open tax years. The credit may not be claimed for any years closed under statute nor can a credit be carried forward from a closed year.


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