Multiple Choice

If it carries back the Net Operating Loss $($NOL$)$ and$/$or carries it forward, it may offset up to $80$ percent of the taxable income $($before the Net Operating Loss $($NOL$)$ deduction$)$ in those years.

It may carry the Net Operating Loss $($NOL$)$ forward for up to $20$ years and offset up to $100$ percent of the taxable income $($before the Net Operating Loss $($NOL$)$ deduction$)$ in those years.

It may carry the Net Operating Loss $($NOL$)$ back two years and offset up to $100$ percent of the taxable income $($before the Net Operating Loss $($NOL$)$ deduction$)$ in those years.

None of these $($selecting this option means you believe all of the other responses are true$).$