Page 45
(d) In the case of a corporation (other than a Subchapter S corporation): (1) no carryover deduction shall be allowed under this Section for any taxable year ending after December 31, 2010 and prior to December 31, 2012; (2) no carryover deduction shall exceed $100,000 for any taxable year ending on or after December 31, 2012 and prior to December 31, 2014 and for any taxable year ending on or after December 31, 2021 and prior to December 31, 2024; and (3) no carryover deduction shall exceed $500,000 for any taxable year ending on or after December 31, 2024 and prior to December 31, 2027. (4) no carryover deduction shall exceed 15% of the amount of net income computed under Section 202 without regard to the deduction allowed by this Section or $500,000, whichever is greater, for any taxable year ending on or after December 31, 2027, and before December 31, 2028; (5) no carryover deduction shall exceed 30% of the amount of net income computed under Section 202 without regard to the deduction allowed by this Section or $500,000, whichever is greater, for any taxable year ending on or after December 31, 2028, and before December 31, 2029; (6) no carryover deduction shall exceed 50% of the SB3019 Enrolled LRB104 20255 HLH 33706 b Public Act 104-0468