The American Recovery and Reinvestment Act of 2009 created a new deduction for state and local sales and excise taxes paid on the purchase of a new motor vehicle. But what if you live in Alaska, Delaware, Hawaii, Montana, New Hampshire, and Oregon,
A tax technique of applying a loss or credit from a current year to a later year. For example, a business net operating loss may be carried forward 20 years instead of being carried back.