The Taxpayer Relief Act of 1997 (TRA 1997) reduced the net operating loss (NOL) carryback period from three to two … transitional fiscal year of 1997. Specifically, failure to recognize a NOL in 1997 results in the loss of recovery of taxes paid in … opportunity cost, we examine whether these firms undertook income shifting to accelerate loss recognition in the tax year 1997 …

The Taxpayer Relief Act of 1997 (TRA 1997) reduced the net operating loss (NOL) carryback period from three to two … transitional fiscal year of 1997. Specifically, failure to recognize a NOL in 1997 results in the loss of recovery of taxes paid in … opportunity cost, we examine whether these firms undertook income shifting to accelerate loss recognition in the tax year 1997 …

-border loss offset inherent to formula apportionment. In the medium run, in which only firms can adjust their strategies, tax …, contrary to output factors, input factors provide an insurance against tax revenue shortfalls due to loss-making affiliates …

The issue of valuing tax loss-carryforwards (TCLFs) and carrybacks (TLCBs) arises frequently in theory and practice …