A Corporation Incurs a Net Operating Loss in 2018

question 2032

True/False

A corporation incurs a net operating loss in 2018. The NOL can be carried back two years and forward for 20 years.

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Definitions:

Tax Revenue

The monetary gains that are acquired by governments from taxation.

Arthur Laffer

Arthur Laffer is an economist known for the Laffer Curve, which posits that there is an optimal tax rate that maximizes revenue without discouraging economic activity.

Tax Revenues

The proceeds that governments secure by enacting taxes.

Tax

A financial charge or levy imposed by a government on individuals or entities, primarily used to fund public expenditures.