(a) Any net operating loss sustained by a Taxpayer in any Taxable Year may not be carried forward or back to any other Taxable Year, regardless of whether or not such net operating loss or any portion thereof is allocable to the Municipality.
(b) Except for an affiliated group of Corporations filing a consolidated Municipal income tax return pursuant to 181.06(g) of this Chapter, a net operating loss sustained by one Taxpayer may not be used to offset the Net Profits or Salaries, Wages, Commissions and Other Compensation of any other Taxpayer. (Ord. 28-01. Passed 4-16-01.)