Question
MWC Corp. is currently in the sixth year of its existence(2017). In 2012-2016, it reported the following income and (losses) (before net operating loss carryover).
MWC Corp. is currently in the sixth year of its existence(2017). In 2012-2016, it reported the following income and (losses) (before net operating loss carryover).
2012: $(70,000) 2013: $(30,000) 2014 $60,000 2015 $140,000 2016 $(25,000) 2017 $300,000
MWC always elect to forgo NOL carryover
What is its taxable income after NOL deduction? What is its 2017 book-tax difference associated iwth its NOL? Is it favorable or Unfavorable? Is it permanent or temporal?
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GLP Quality Audit Manual
Authors: Milton A. Anderson
3rd Edition
0367398435, 978-0367398439
