What Impact Does an NOL Carryforward Have on the Proper

question 47

Essay

What impact does an NOL carryforward have on the proper sequencing of deductions to compute corporate taxable income?

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Definitions:

Favourable Consequences

Positive outcomes or rewards that are likely to encourage a particular behavior to be repeated.

Primary Reinforcer

A stimulus that satisfies a basic survival need and thus inherently reinforces and increases the likelihood of a behavior associated with it.

Secondary Reinforcer

A stimulus that becomes reinforcing through its association with a primary reinforcer, not inherently rewarding but has learned value.

Operant Conditioning

A pedagogical process that modifies the intensity of behavior with either encouragement or discipline.