145k views
3 votes
True or False - Net operating losses may be carried forward for 3 years

2 Answers

3 votes

Answer:

False - Net operating losses may be carried forward for more than 3 years.

Explanation: Net operating losses (NOLs) occur when a company's deductible expenses exceed its taxable income. In some cases, companies are allowed to carry forward these NOLs to offset future taxable income, reducing their tax liability. However, the length of time that NOLs can be carried forward varies depending on the tax laws of each country.

User Pryma
by
8.9k points
2 votes
The answer is false
User JaminB
by
8.1k points

No related questions found