If a Corporation Reports Both a NLTCG and a NSTCG

question 71

True/False

If a corporation reports both a NLTCG and a NSTCG after netting all capital gains and losses,both the NLTCG and the NSTCG are subject to tax at rates applicable to ordinary income.

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Definitions:

Neurotransmitters

Chemicals in the brain and body that transmit signals across neurons.

Vestibulocochlear

Pertaining to the vestibulocochlear nerve, which transmits sound and equilibrium (balance) information from the inner ear to the brain.

Oculomotor

Pertaining to the eye's movements and the muscles that control them.

Optic

Relating to the eye or vision, often used in conjunction with nerves, pathways, or diseases affecting sight.