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We are very pleased with this IRS ruling which is consistent with our prior analysis and will aid us in maximizing the utilization of our prior year net operating loss carryforwards and thereby minimizing our tax payment obligations for this year," said Mihael H.
Section 172 generally permits a net operating loss (NOL) of any year to be carried back two taxable years and then carried forward 20 taxable years.
The Supreme Court said the Fourth Circuit was wrong in its holding that no part of the consolidated group's net operating loss qualified for the special 10-year carryback for product liability expenses.
Revenue for the twelve months ended December 31, 2002 was approximately $24,000,000, which will yield an operational net income of approximately $2,750,000 (without regard for any net operating loss adjustment).
Example: Assume that in addition to the warranty reserve, On-The-Edge has a $35,000 net operating loss carryforward expiring in year 10.
Examples of such uncertainties and contingencies include, among other important factors, those affecting the insurance industry in general, such as the economic and interest rate environment, legislative and regulatory developments and market pricing and competitive trends, and those relating specifically to the Company and its businesses, such as the level of its insurance premiums and fee income, and acquisitions of companies or blocks of business, its ability to sustain growth and to successfully transition to the Pink Sheets, whether there will be an active trading market in the Company's stock on the Pink Sheets, the Company's ability to preserve its net operating loss carry forwards and the accompanying tax benefits.
Net Operating Losses [AB 1774 (Lempert) Amends Rev and TC 17276 and 24416]: This bill was amended by the primary budget bill, AB 511, Burton, to increase the net operating loss carryforward from its current level of 50 percent to 55 percent, for income years 2000-02, and 60 percent thereafter.
The proposal to modify the corporate net operating loss (NOL) deduction carryover provisions is nothing short of budgetary legerdemain.
USEY is able to further enhance shareholder value by applying green tax credits and net operating loss carryforwards to maximize after-tax income.
172, which allows a deduction for the tax year of "an amount equal to the aggregate of (1) the net operating loss carryovers to such year, plus (2) the net operating loss carrybacks to such year.
ISI has previously announced that 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.
108(b)(2): (1) net operating losses and net operating loss carryovers; (2) general business credits under Sec.

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