The District of Columbia has amended income tax law to:
exempt certain Coronavirus Aid, Relief, and Economic Security (CARES) Act payments and other emergency grants from tax; and
allowing a deduction for certain apportioned net operating loss carryover.
Net Operating Loss Carryover
For tax years after 2017, corporations, unincorporated businesses or financial institutions are allowed an 80% deduction for apportioned District of Columbia NOL carryover to be deducted from net income after apportionment. Act 23-328 (D.C.B. 23-759), Laws 2020, effective June 8, 2020, for a 90-day period that expires September 6, 2020; A 23-0326 (D.C.B. 23-757), Laws 2020, expires on June 9, 2020