Cricket Corporation Has a $50,000 Nol in the Current Year.cricket's
Cricket Corporation has a $50,000 NOL in the current year.Cricket's taxable income in each of the previous two years was $25,000.Cricket expects its taxable income for next year to exceed $400,000.What issues should be considered with respect to the use of the NOL?
All of the taxable income of a personal service corporation is taxed at a flat 35% rate.
Davis Corporation,a manufacturer,has taxable income of $150,000.Davis's regular tax liability is
Delux Corporation,a retail sales corporation,has a taxable income of $500,000.Delux Corporation's regular tax liability is