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Coalition: Ask Members of Congress to Expand NOL Benefit

With the effects of the nation’s recession still being felt by the RV industry, RVIA continues to work diligently with its industry partners to encourage Congress to pass legislation that will aid the industry and help speed its recovery.

The Net Operating Loss Coalition, of which RVIA is a member, is a large group of businesses coordinated by the National Association of Manufacturers. The Coalition is seeking passage of legislation to expand on the improved Net Operating Loss (NOL) tax benefit made available to smaller size business in the American Recovery Act stimulus bill passed in February.

The expanded tax benefit would enable larger companies to carry back a NOL from tax year 2008 or 2009 to a profitable year up to five years back, file an amended tax return for that year, and get a tax refund now.

RVIA Vice President of Government Affairs Dianne Farrell said, "The tax refunds under this expanded benefit could be substantial, and the cash could be used for any purpose. RV manufacturers, suppliers and dealers could all benefit from an expanded NOL tax benefit."

The Net Operating Loss Coalition is currently working to ensure passage of two companion bills in Congress, Senate 823 and House 2452. RVIA members are encouraged to talk with legislators during the August recess to ask them to co-sponsor the House or Senate bill.

For more information, please contact Christine Siksa, Director of Government Affairs, at 800-336-0154, ext. 363 or csiksa@rvia.org.

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