What Is the Carryback and Carryforward Rule for Consolidated NOLs

question 46

Essay

What is the carryback and carryforward rule for consolidated NOLs?

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Definitions:

Condition

A stipulation or prerequisite in a contract or agreement that must be met for the agreement to be fully enforceable.

Off-campus Neighborhoods

Residential areas located outside the boundaries of a college or university campus, often inhabited by students.

Operation Of Law

Legal changes that occur automatically due to existing laws, without the need for action by the parties involved.

Duty To Pay

The obligation to make payment for goods received, services rendered, or a debt incurred.