For Corporations,both NLTCLs and NSTCLs Are Eligible for a 3-Year

question 83

True/False

For corporations,both NLTCLs and NSTCLs are eligible for a 3-year carryback and a 5-year carryforward as an offset against capital gains for those years.

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Definitions:

Diverse Corporations

Companies that are varied in terms of their industry sectors, sizes, and cultural inclusivity within the workforce.

Lengthy Period

A significantly long duration of time.

Equity Mutual Fund

A type of mutual fund that invests principally in stocks, aiming to provide returns through dividends and capital gains.

Small Investor

An individual who invests limited amounts of money in the stock market or other investment vehicles.