Skip to main content

NMMA wants extension of NOL carryback period

The National Marine Manufacturers Association is urging its members to take action on economic-stimulus legislation being considered by Congress.

The NMMA is helping lead the effort to provide an extension of the Net Operating Loss carryback period from the current two-year allowance to five years for tax years 2008 and 2009, and to temporarily suspend the current 90 percent Alternative Minimum Tax limitation on the utilization of AMT NOLs for this period.

Extending the NOL carryback period will allow companies to receive an immediate tax refund on taxes paid during more profitable years. This will provide businesses with increased short-term liquidity as they struggle to maintain operations during these difficult times, according to the association.

The NMMA is urging members to contact their elected officials and tell them that NOL relief should be included in any final stimulus bill.

Click here for more.

Related

01_DROUGHT

Open for Business

Despite drought conditions in the western United States, boating remains popular on Lake Mead and elsewhere.

1_OIL.PRICE

Crude Weakens and Gas Prices Ease

West Texas Intermediate crude oil fell below $100 per barrel yesterday, while gasoline and diesel prices have slipped from their June highs.

1_RFA.NIXON

RFA Hires Executive Director

Robert Nixon brings fishing-policy expertise and lobbying experience to the group’s efforts to preserve anglers’ rights.

Teaser-Graphic-6-29-22_2

2022 Women in the Industry Summit, Leadership Panel, Awards Ceremony & Reception

MONDAY, SEPTEMBER 26, 2022, MARRIOTT TAMPA WATER STREET, TAMPA, FL

DealerOutlook

Seabins Coming to Lake Erie

The devices, deployed as part of a pilot program, skim and collect debris from the water, including microplastics. Meanwhile, MBIA announces scholarship funds.

1_BOATSETTER

Boatsetter Reports Uptick in Rentals

The on-water experience company has seen triple-digit growth in pontoon and party-boat rentals, as well as fishing and yacht charters.

1_SMARTGYRO

Smartgyro Signs Distributors, Hires Sales Manager

The company said the three U.S. distributors, working with Bob Walker, will help expand its dealer network and brand recognition.

1_YEARGIN

The Upside of a Downturn

Economic challenges should push you to develop a strategy that helps you weather the storm and come out stronger on the other side.