Taxpayers Are Generally Allowed to Carry Back And/or Carry Forward

question 49

True/False

Taxpayers are generally allowed to carry back and/or carry forward unused business credits.

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Definitions:

Clicks-and-mortar

A business model that combines online presence with physical retail outlets, using both channels for sales and customer interaction.

Physical

Pertaining to or involving the body as opposed to the mind or spirit, or relating to things that can be seen or touched.

Clicks-and-mortar

A business model that combines both online (clicks) and offline (mortar) presences for improved customer experience.

Brick-and-mortar

Refers to businesses that have physical stores as opposed to or in addition to an online presence.