As part of the budget bill, the Legislature suspended net operating loss (“NOL”) deductions for the 2010 and 2011 tax years. The deduction previously had been suspended for the 2008 and 2009 tax years. An NOL that is suspended may be carried forward 20 years plus an additional one, two, three or four years depending on if the loss was denied for 2008, 2009, 2010 or 2011, respectively. In addition, NOLs attributable to taxable years beginning on or after January 1, 2013, may be carried back up to two years (i.e., to taxable years beginning on or after January 1, 2011).