I didn't get the impression that this tax break was on personal income tax, but corporate income tax. So you would only get a corporate income tax break if your company has a profit.

I was recently in the situation where I had to pay a ton of capital gains tax on an acquisition, even though my company never really had a profit, and therefore paid no corporate income tax.

But I agree. Not having to pay personal income tax would be sweet. You need to go to NH or TX for that.