Multiple Choice
Which of the following statements is incorrect regarding the taxation of C corporations for tax years beginning after 2017?
A) NOLs are subject to a 2-year carryback and 20-year carryforward period.
B) Taxable income of a personal service corporation is taxed at a flat rate of 21%.
C) A tax return must be filed whether or not the corporation has taxable income.
D) The alternative minimum tax does not apply.
E) None of these.
Correct Answer:
Verified
Correct Answer:
Verified
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