Net Operating Loss Carry Over.
Section 24
SEC. 24. Net Operating Loss Carry Over. —A net operating loss, inclusive of financial charges, of the registered agricultural activity incurred in any of the first ten (10) years of operations may be carried over as a deduction from taxable income of the enterprise for the six (6) years immediately following the year of such loss. The entire amount of the loss shall be carried over to the first of the six (6) taxable years following the loss, and any portion of such loss which exceeds the taxable income of such first year shall be deducted in like manner from the taxable income of the next remaining five (5) years.