District Of Columbia § 47-1810.08(Perm) - Accounting rules; future deductions.
Full text of District Of Columbia D.C. Code § 47-1810.08(Perm) — Accounting rules; future deductions., with citation guidance and answers to common questions.
§ 47-1810.08(Perm). Accounting rules; future deductions.
47-1810.08(Perm)*NOTE: This codification is the most current, due to recent law changes. To see the current law (including emergency and temporary legislation, if relevant) click this link: *
If the enactment of combined reporting requirements for unitary businesses results in an increase to a combined group’s net deferred tax liability, the combined group shall be entitled to a deduction to the extent determined under subsection (b) of this section. Only publicly traded companies, including affiliated corporations participating in the filing of a publicly traded company’s financial statements prepared in accordance with generally accepted accounting principles, as of September 14, 2011, shall be eligible for this deduction. To the extent the deduction would produce a net operating loss in any tax year, the unused deduction may be carried forward to each succeeding tax year by the combined group.
For the 7-year period beginning with the 15th year of the combined filing, a combined group shall be entitled to a deduction equal to 1/7th of the net increase in the taxable temporary differences that caused the increase in the net deferred tax liability, as computed at the time of enactment in accordance with generally accepted accounting principles, that would result from the imposition of the combined reporting requirements but for the deduction provided under this section. The amount of the deduction shall in no case exceed the amount necessary to offset any increase in net deferred tax liability, as computed in accordance with generally accepted accounting principles, that would result from the imposition of all of the provisions of combined reporting but for the deduction provided under this section.
If there is an underpayment of estimated tax for tax year 2020 as a result of taking into account the deduction pursuant to this section, the estimated tax interest resulting from such underpayment, upon application, shall be waived.
For the purposes of this section, the term “net deferred tax liability” shall mean the net increase, if any, in deferred tax liabilities minus the net increase, if any, in deferred tax assets of the combined group, as computed in accordance with generally accepted accounting principles.
Annotations
Applicability of : Section 7103 of provided that § 7102 of the act shall apply for taxable years beginning after December 31, 2010.
Section 8004 of provided: “Sec. 8004. Applicability. This subtitle shall apply for taxable years beginning after December 31, 2010.”
Source: official District Of Columbia text · Last verified 2026-08-27
Frequently Asked Questions About District Of Columbia § 47-1810.08(Perm)
What does D.C. Code § 47-1810.08(Perm) cover?
Section 47-1810.08(Perm) ("Accounting rules; future deductions.") is part of the D.C. Code, the codified statutory law of District Of Columbia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite District Of Columbia § 47-1810.08(Perm)?
A common citation format is "D.C. Code § 47-1810.08(Perm)" (District Of Columbia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of District Of Columbia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the District Of Columbia official source linked on this page or consult a licensed District Of Columbia attorney.
How does District Of Columbia § 47-1810.08(Perm) apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in District Of Columbia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in District Of Columbia.