If a corporation incurs a taxable loss, they are entitled to carry the loss back for three years or forward for twenty years.

Name: If a corporation incurs a taxable loss, they are entitled to carry the loss back for three years or forward for twenty years.
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The Tax Cuts and Jobs Act of 2017 eliminated the carryback of net operating losses for most businesses and allows losses to be carried forward indefinitely, but only up to 80% of taxable income.

If a Corporation Incurs a Taxable Loss, They Are Entitled