43-1124. Arizona capital loss carryover; corporations

A. For purposes of this chapter, Arizona capital loss carryover shall be Arizona capital loss carryover existing at the beginning of the taxable year from tax years beginning prior to January 1, 1988.

B. For purposes of this section, federal capital loss shall not include any capital loss carryover or carryback pursuant to section 1212 of the internal revenue code.

C. The subtraction taken pursuant to section 43-1122, paragraph 2 shall be subtracted from the Arizona capital loss carryover computed in subsection A of this section in arriving at the Arizona capital loss carryover at the beginning of the next taxable year.

43-1124. Arizona capital loss carryover; corporations

A. For purposes of this chapter, Arizona capital loss carryover shall be Arizona capital loss carryover existing at the beginning of the taxable year from tax years beginning prior to January 1, 1988.

B. For purposes of this section, federal capital loss shall not include any capital loss carryover or carryback pursuant to section 1212 of the internal revenue code.

C. The subtraction taken pursuant to section 43-1122, paragraph 2 shall be subtracted from the Arizona capital loss carryover computed in subsection A of this section in arriving at the Arizona capital loss carryover at the beginning of the next taxable year.