Amtel, Inc. v. States

OPINION

MARGOLIS, Judge.

This tax case is before the court on cross-motions for summary judgment. Plaintiff seeks to carry back a product liability loss from a consolidated return year to a separate return year under 26 U.S.C. §§ 172, 1501-1503, and the consolidated return regulations. Plaintiff argues it is entitled to such a carryback because a consolidated group is treated as a single entity with respect to the product liability loss provisions. Defendant counters that plaintiff has no net operating loss for the consolidated return year and, therefore, cannot carry back any product liability…