Does it make sense to make an assumption (on a case study) that there is no nol Tax Relief/Deduction? Or is NOL something that is always in effect? The net income for the first year is negative, so I just want to assume that there is no tax expense for that year and that it doesn't affect the years forward. There is no information given regarding this from the case, so I want to state the assumptions clearly.
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First, I assume there are no prior NOLs on the balance sheet.
The first year loss creates an NOL, which should be used in future years until it is fully depleted (or 20 years when it expires). The NOL can also be carried back 2 years, but looks like you don't have info to do that...
yea, no info at all. So can I state an assumption that there is no NOL relief for this case? No NOL balance
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