Corporations can carry net operating loss sustained in 2014 back two years and forward 20 years.

Question

Quizplus · Accepted Answer

The statement is true. Under the tax laws in the United States, corporations may carry net operating losses back two years and forward 20 years to offset taxable income in those years. This can help reduce a corporation's tax liability and improve its overall financial position. It's worth noting that recent tax reform legislation has made some changes to the way net operating losses are treated, so it's always a good idea to consult with a tax professional or financial advisor to understand how the rules apply in your specific situation.

Corporations Can Carry Net Operating Loss Sustained in 2014 Back