| It is difficult to estimate reduced corporate refunds and reduced corporate receipts associated with this proposal. The losses that can be carried forward cannot be used until taxpayers have a positive income to offset and with the slow economy, it may take some time before this happens. However, eliminating the two-year carryback provision would reduce business refunds in the immediate future. Limiting losses to a five-year carry forward period should reduce total net operating losses claimed. However, with all net operating losses being carried forward, corporate income tax receipts will probably come in lower in the near future. |