Net operating tax carry backs and carry forwards never result in a cash refund of prior taxes paid but may result in a reduction in taxes for subsequent years.

Name: Net operating tax carry backs and carry forwards never result in a cash refund of prior taxes paid but may result in a reduction in taxes for subsequent years.
Brand: Quizplus
Rating: 4.7 (42 reviews)

Question

Quizplus · Accepted Answer

Net operating loss carrybacks can result in a cash refund of taxes paid in prior years, while carryforwards reduce taxable income in future years.

Net Operating Tax Carry Backs and Carry Forwards Never Result