Question: In general terms, net operating loss is a loss that results when a companys expenses exceed its income. Respond to the following in a minimum

In general terms, net operating loss is a loss that results when a companys expenses exceed its income.

Respond to the following in a minimum of 175 words:

  • What are the tax implications of a net operating loss?
  • For how long can an organization carry forward a net operating loss? Explain your reasoning.

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