The National Venture Capital Association (NVCA) is supporting a measure containing a provision the organization said protects the net operating losses (NOLs) of startups.
NVCA officials said H.R. 6756, also known as the American Innovation Act of 2018 and sponsored by House Ways and Means Tax Policy Subcommittee Chairman Vern Buchanan (R-FL) earlier this month, includes a section allowing startups to carry forward their losses and R&D tax credits accrued in the company’s first three years of existence, without regard to Section 382 of the tax code.
