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If a Company Is Unable to Use All Its Foreign

question 62

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If a company is unable to use all its foreign tax credit in a tax year, what happens to the excess?


Definitions:

Lawyer

A professional who is qualified to offer advice about the law or represent someone in legal matters.

Accountant

A professional who manages, audits, and prepares financial records and ensures compliance with legal and regulatory requirements.

Dissolution

The process of formally ending or dissolving an entity or agreement, such as a corporation, partnership, or marriage.

Paralegal

A trained legal assistant who performs various legal tasks under the supervision of an attorney.

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