A Member's Portion of a Consolidated NOL May Be Carried

question 63

True/False

A member's portion of a consolidated NOL may be carried back against that member's taxable income from the preceding two separate return years.

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Definitions:

Term Deposit

A fixed-term investment held at a financial institution that pays interest at a specified rate and matures on a predetermined date.

Matures

The point in time when a financial instrument, such as a bond, CD, or loan, reaches its final due date and the principal is to be repaid.

Paying

The act of disbursing or settling a financial obligation.

Term Deposit

A type of bank deposit that is held at a financial institution for a fixed term or period of time, often yielding higher interest rates.