HARRISBURG – Legislation has been introduced to update state tax laws in order to provide critical assistance to small businesses that have been impacted by the COVID-19 pandemic. The proposal is focused on providing tax relief to small employers who experienced losses during the pandemic. The changes were necessary in order to provide immediate tax relief to small businesses that are struggling to survive. The legislation would allow small businesses to take a net loss against other sources of income; permit small businesses to take Net Operating Losses against future years for up to 20 years; and temporarily allow small businesses to “carry back” losses to previous tax years.