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Among them: a "carryback" provision determining how businesses can account for losses and whether tax credits for broadband deployment are included in the compromise legislation.
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If someone tells you a "seller carryback" is a good idea--and I heard it on the radio the other day--run screaming from the room.
That is the right of the corporation to claim a loss on the sale of its assets and get cash back from the government from a loss carryback.
The unfulfilled Senate proposal of a five-year carryback for NOLs and general business credits is a good starting point.
States also continue to enact variances from federal net operating loss treatment, a trend likely to accelerate with the allowance of a five-year net operating loss carryback election in the Worker, Homeownership and Business Assistance Act of 2009 (P.L. 111-92).
The biggest firms, which provide the vast majority of corporate income tax, will not get an expansion of the so-called net operating loss "carryback," designed to allow firms to record losses in previously profitable years.
Five-year carryback of net operating losses, available through fall 2009.
A: A hundred and fifty thousand yuan?
One A A Milne.
A: Probably a million.
That deserves an A.
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