A company has a tax loss of ($ 497,000) in (20 X 4), when the tax rate
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A company has a tax loss of \(\$ 497,000\) in \(20 X 4\), when the tax rate was \(40 \%\). The tax loss is expected to be used in 20X6. At present, there is an enacted tax rate of \(42 \%\) for 20X5. The government intends to increase the tax rate to \(45 \%\) in 20X6, but no legislation concerning tax rates has yet been drafted. At what amount should the tax loss carryforward be recorded, if it meets the appropriate criteria to be recorded?
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