When a Member Departs from a Consolidated Group, It Leaves

question 142

True/False

When a member departs from a consolidated group, it leaves behind any NOLs that it generated while in the group.
The parent corporation and remaining affiliates apply those NOLs against future consolidated taxable income.

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Definitions:

Specific Biological Factors

Particular physiological elements that can influence an individual's physical and psychological health, such as genetics, brain chemistry, and hormone levels.

Individual Differences

Variations among individuals in their behavior, cognition, personality, or physical functioning, often studied in psychology to understand human diversity.

Sociocultural Perspective

A view that looks at how society and culture shape cognition, behavior, and attitudes, emphasizing social interaction and cultural determinants.

Cultural Influences

The impact of a society's norms, values, practices, and social structures on the thoughts, behaviors, and feelings of its members.