Solution-California income tax return

California income tax return

Reference no: EM133246930

In 2021, Duke's business had $100 million in revenue, and had $10,000,000 in net income in 2021. His business had a Net Operating Loss of $6,000,000 from 2020 that he carry forwarded to 2021. How much of the Net Operating Loss from 2020 can Duke use to offset his business' net income in 2021 on his California Income Tax Return?

Reference no: EM133246930

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California income tax return

Reference no: EM133246930

Reference no: EM133246930

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