Capital losses can be carried forward
five years to offset future capital gains and back three years to offset prior capital gains for all corporations, Again, in order to determine the amount of the deferred tax asset, you must multiply your capital loss carry-forward by the effective tax rate and then compute how much of the asset may be admitted.
The position is not entirely clear from the Advocate-General's opinion if the losses have actually been used in the foreign jurisdiction, or are being carried forward
and may be used in the foreign jurisdiction in the future.
In the year of disposition taxpayers may apply all carried forward
losses against their ordinary income.
1503-2(d)(3)(i)(B) confirms this concept, stating that a parent's basis in a member's stock is not reduced in a subsequent tax year as a result of the consolidated group absorbing a DCL carried forward
from a prior year (i.
Automobile business use is carried forward
from schedule 2106 to calculate allowable depreciation.
The disallowed amount may be carried forward
indefinitely, subject to the limits applicable in a future year.
The June 30, 2002, surplus to be carried forward
is estimated to decline to $249 million and will be applied for property tax relief in fiscal 2004.
The same NOL carried forward
into 2004 that offsets the highest-taxed income (35%) would trigger a $350 tax savings.
0 million before tax benefit of loss carried forward
If X were a loss corporation prior to 2001, generally its regular tax net operating loss (NOL) carry-forwards from that period could be carried forward
as AMTNOLs beginning in 2001.
BPCS Enable gives our clients the option to make discrete decisions that can be carried forward
into future BPCS upgrades.
The unused credit of $745,845 may be carried forward