A Corporation Has a Net Capital Loss

question 69

True/False

A corporation has a net capital loss. The significance of a net capital loss in 2013 for a corporation is that it can be carried back 3 years and carried forward 5 years by a corporation to offset capital gains in other taxable years.

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Definitions:

Clayton Act

A U.S. antitrust law enacted in 1914, aimed at promoting fair competition and preventing monopolies by prohibiting certain types of anti-competitive practices.

Sherman Act

A landmark federal statute in the field of United States antitrust law aimed at preserving competitive markets by prohibiting monopolies and other business practices that hinder competition.

Standard Oil Trust

A historically significant corporation that monopolized the oil industry in the United States through the aggressive consolidation of competing enterprises.

ALCOA Case

A landmark legal case involving the Aluminum Company of America, which led to significant developments in antitrust law regarding monopolies.