The net operating loss
carryforward and carryback provisions of section 172 permit taxpayers to ameliorate the unduly harsh and inequitable consequences of taxing income strictly on an annual basis.
Regulations section 1502-11 requires a consolidated group to determine its consolidated net operating loss
95 million, with reportable net income in excess of $7 million due to the company's net operating loss
carry-forward and the anticipated gains from the sale of Kolar's buildings.
Example: High Tech Company, a start-up company, has incurred substantial research and development costs in its first three years of operation, creating a $300,000 net operating loss
The Company also has approximately $256 million in long-term debt, and approximately $52 million of net operating loss
Agreement Relating to Net Operating Loss
382-6 provides alternative rules for allocating net operating loss
or taxable income and net capital loss or gain between the periods ending with and after the ownership change date.
The Company expects that its net operating loss
carry-forwards (NOLs) will allow most of its profits and cash to drop to the bottom line.
At the end of 2002, the P group had a $50 million consolidated net operating loss
(CNOL); $10 million was attributable to $1 and $40 million to S2.
ISI) (Nasdaq: IFSC) today announced it intends to participate in the State of New Jersey's corporation business tax benefit certificate transfer program (the "Program"), which when effective will allow certain high technology and biotechnology companies to transfer unused New Jersey net operating loss
carryovers to other New Jersey corporation business taxpayers.
2) Thus, the example at Paragraph 224 assumes a net operating loss
in the current year portends net operating losses
in all future years.
Accordingly, the company will be filing an amended 2005 year-end statutory statement, which will result in a revised net operating loss