Under the 2017 Tax Act, the benefit of net operating losses carried forward is not impacted by the lower tax rate of 21 percent. True False

CONCEPTS IN FED.TAX.,2020-W/ACCESS
20th Edition
ISBN:9780357110362
Author:Murphy
Publisher:Murphy
Chapter7: Losses—deductions And Limitations
Section: Chapter Questions
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Under the 2017 Tax Act, the benefit of net operating losses carried forward is not impacted by the lower tax rate of 21 percent.
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False
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