(a)
Notwithstanding Sections 17276, 17276.1, 17276.2, 17276.4, 17276.5, 17276.6, and 17276.7 of this code and Section 172 of the Internal Revenue Code, no net operating loss deduction shall be allowed for any taxable year beginning on or after January 1, 2002, and before January 1, 2004.(b)
For any carryover of a net operating loss for which a deduction is denied by subdivision (a), the carryover period under Section 172 of the Internal Revenue Code shall be extended as follows:(1)
By one year, for losses incurred in taxable years beginning on or after January 1, 2002, and before January 1, 2003.(2)
By two years, for losses incurred in taxable years beginning before January 1, 2002.
Source:
Section 17276.3, https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=RTC§ionNum=17276.3..