Brass Co. reported income before income tax expense of $60,000 for 2017. Brass had no permanent or
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Brass Co. reported income before income tax expense of $60,000 for 2017. Brass had no permanent or temporary time differences for tax purposes. Brass has an effective tax rate of 30% and a carryover net operating loss of $40,000 as of 2016.
What is the maximum income tax benefit Brass can obtain from loss carry forward for 2017?
Related Book For
Intermediate Accounting
ISBN: 978-0077400163
6th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
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