A616 — Modifies the gross income tax to enable the carryforward of capital losses and exclude capital gains from the sale of closely held businesses.

A616 — Modifies the gross income tax to enable the carryforward of capital losses and exclude capital gains from the sale of closely held businesses. · Informed CitizenryThe bill modifies the gross income tax (GIT) in two ways, both applying to taxable years beginning on or after July 1, 2015. First, a taxpayer may elect to carry forward an intracategory net capit…Open in Informed Citizenry