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.

---

Definitions:

Norman Rockwell

An iconic 20th-century American painter and illustrator known for his depictions of everyday life in the United States, capturing the spirit and culture of the nation.

Saturday Evening Post

An American magazine that historically featured literature, journalism, and illustrations, known for its broad appeal and contributions to American culture and its iconic covers.

Essential Human Freedoms

Fundamental rights considered to be the inherent entitlements of all human beings, such as freedom of speech, religion, and equality before the law.

American Neutrality

A foreign policy stance by which the United States has sought to avoid entanglement in the affairs and wars of other nations, notably during the early parts of both World Wars.