SCC corporation (a C corporation) has a net operating loss (NOL) carryover to 2020 in the amount
Question:
SCC corporation (a C corporation) has a net operating loss (NOL) carryover to 2020 in the amount of $30,000. How much tax will SCC pay in 2020 if it reports taxable income from operations of $20,000 before considering loss carryovers under the following assumptions?
a. The NOL originated in 2017.
b. The NOL originated in 2018.
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a None SCCs loss in 2017 of 30000 will be available to offset up to 100 percent ...View the full answer
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I have completed my graduation and master's in history from Jadavpur University Kolkata,India in 2012 and I have completed my B.Ed from the same University in 2013. I have taught in a reputed school of Kolkata (subjects-History,Geography,Civics,Political Science) from 2014-2016.I worked as a guest lecturer of history in a college of Kolkata for 2 years teaching students of 1st ,2nd and 3rd year. I taught Ancient and Modern Indian history there.I have taught in another school in Mohali,Punjab teaching students from classes 9-12.Presently I am working as an online tutor with concept tutors,Bangalore,India(Carve Niche Pvt.Ltd.) for the last 1year and also have been appointed as an online history tutor by Course Hero(California,U.S) and Vidyalai.com(Chennai,India).
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Related Book For
Taxation Of Individuals And Business Entities 2021
ISBN: 9781260247138
12th Edition
Authors: Brian Spilker, Benjamin Ayers, John Barrick, Troy Lewis, John Robinson, Connie Weaver, Ronald Worsham
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