If your company has a Pennsylvania net operating loss (NOL) cap appeal that has been “held pending” the outcome of RB Alden Corp. v. Commonwealth, you will need to act soon because the RB Alden case is now closed.
On November 29, 2022, the parties in RB Alden Corp. v. Commonwealth filed a Stipulation for Judgment closing the case. If your company has a Pennsylvania NOL cap appeal pending at the Board of Appeals, the Board of Finance and Revenue, or in court, and it has been held pending the outcome of RB Alden, then your case will now become active once again. If you have questions about next steps for your appeal, Reed Smith’s State Tax Group would be happy to discuss this with you.
Client Alert 2022-391