Net Operating Loss (General)
STATE OF ILLINOIS
DEPARTMENT OF REVENUE
OFFICE OF ADMINISTRATIVE HEARINGS
THE DEPARTMENT OF REVENUE
OF THE STATE OF ILLINOIS
Docket No. 03-IT-0000
ABC, INC. d/b/a THE OLD ABC
RECOMMENDATION FOR DISPOSITION
Appearances: Kent Steinkamp, Special Assistant Attorney General, for the Department
of Revenue of the State of Illinois; Howard L. Snowden of Snowden & Snowden for
ABC, Inc. d/b/a The Old ABC.
The Department of Revenue (“Department”) issued a Notice of Deficiency
(“Notice”) to ABC, Inc. d/b/a The Old ABC (“taxpayer”) for Illinois income tax for
1999. The taxpayer timely protested the Notice. An evidentiary hearing was held during
which the taxpayer argued that the Department incorrectly disallowed a deduction for net
operating losses (“NOL”) from previous years.
After reviewing the record, it is
recommended that the Department’s determination be upheld.