Preston v. Department of Treasury

Defendants appeal as of right a December 15, 1988, order of the Court of Claims granting plaintiffs motion for summary disposition pursuant to MCR 2.116(0(10). Defendants claim that the court erred in ruling that plaintiff was entitled to a net operating loss (nol) deduction for losses from his business operations in Michigan. We disagree and affirm.

The parties stipulated below to the facts. Plaintiff is a resident of Texas and is involved in the production of and exploration for oil and gas in Michigan. Plaintiff incurred in 1980 substantial losses that were attributable to business…