Alysse McLoughlin wrote this bylined article about the impact of the Plasmanet and TD Holdings cases on New York’s rules to claim net operating loss (NOL) deductions for all but S corporations. Because NOLs even out business gains and losses, Ms. McLoughlin wrote, “wasting of the NOL in every year that the taxpayer has an NOL available for use in New York … completely contradicts the policy behind preservation and use of NOLs to offset income generated in different years.”