ARM 42.23.804. TREATMENT OF MERGERS, CONSOLIDATIONS, AND REORGANIZATIONS

(1) In the case of a merger of corporations, the surviving corporation may not claim a net operating loss deduction for net operating losses incurred by any of the merged corporations prior to the date of merger. (2) Similarly, in the case of a consolidation of corporations, the new corporate entity may not claim a net operating loss deduction for net operating losses incurred by the dissolved corporations prior to the date of consolidation. (3) In the case of a corporate entity that has converted to a disregarded entity, no net operating loss deduction may be claimed for net operating losses incurred by the corporate entity prior to the date of conversion.