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.

---

Definitions:

Add Column

The process of inserting a new column into a table or spreadsheet, expanding its structure.

Record

In computing, a collection of related items of data treated as a single unit, often within a database.

Attribute

A quality or characteristic given to a person, group, or some other entity, or a specification in coding to define properties of elements.

Field

An area in a database or a form where a specific piece of data is stored, such as a name or date.