NOL Carryforward Taxable income and income tax rates for 2013-2018 for the company are shown below 20 Income Tax Taxable Income Total Tax Paid Rate Year 30,000 15,000 20,000 (100,000) 50,000 (200,000) 30% 35 35 40 35 30 013... 2014.. 2015 $9,000 5,250 7,000 2017 2018 Make the journal entry necessary to record any NOL carryforward created in 2018 The enacted tax rate for future years is 40%