Tallman v. Department of Revenue

Carlisle B. Roberts, Judge.

Plaintiffs appeal from the defendant’s Order No. 1-73-22, denying certain claimed deductions for net operating loss carry-forwards for their personal income tax year 1971.

Plaintiffs suffered a substantial net operating loss during their 1970 personal income tax year. Following federal requirements, they carried the loss back into their federal income tax years 1967 and 1968, with a balance of $910.41 being carried back for both federal and state purposes for the year 1969 (utilizing, for state purposes, the provisions of the Oregon Personal Income Tax Act of 1969,…