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Which of the following statements is true for a C corporation incurring a Net Operating Loss ( NOL ) for a tax year that begins
Which of the following statements is true for a C corporation incurring a Net Operating Loss NOL for a tax year that begins in
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It may carry the Net Operating Loss NOL back up to five years.
It may carry the Net Operating Loss NOL forward up to years.
It may offset of taxable income after the Net Operating Loss NOL deduction allowed for any Net Operating Loss NOL carryovers from prior years.
It may offset of taxable income after the Net Operating Loss NOL deduction allowed for Net Operating Loss NOL carryovers from prior years.
None of the choices is correct.
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