Corporate losses OA) offset other losses from prior years B) are carried forward to future years C) are carried forward three years and then carried back D) are carried back three years and then carried forward Possible advantages of incorporating include 1. permanency 2. ease of transferring ownership 3. avoidance of federal taxes OA) 1 and 2 OB) 1 and 3 OC) 2 and 3 OD) 1, 2, and 3 Corporate federal income tax rates OA) decrease as income increases B) are the same for all level of corporate income OC) phase out the benefits of lower tax brackets as corporate income increases D) reach a high of 50 percent for earnings over $18,300,000