Rugby Corporation has a $50,000 NOL in the current year. Rugbys taxable income in each of the

Question:

Rugby has a $50,000 NOL in the current year. Rugby’s taxable income in each of the previous two years was $25,000. Rugby expects its taxable income for next year to exceed $400,000. What issues should Rugby consider with respect to the use of the NOL?
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...