NOLs - 2007 35,000 20% 2008 (10,000) 20% 2009 (75,000) 25%...

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Net operating losses (NOLs) The Nunan Company reported the following income for financial accounting and tax purposes for 2005-2010: Year Income <loss> Enacted rate 2005 12,000 15% 2006 20,000 15%
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Unformatted text preview: 2007 35,000 20% 2008 (10,000) 20% 2009 (75,000) 25% 2010 70,000 30% Required: Determine the benefit from the NOL that Nunan would report on their income statement and balance sheet for 2008-2010....
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This note was uploaded on 03/04/2010 for the course TAX 6845 taught by Professor Kelliher,c during the Fall '08 term at University of Central Florida.

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