National Holdings Corporation (NHLD)

[glass99]

I thought this question was good:

Another -- just a clarification. When you went ahead and got the deferred tax asset of $11 million, that added $0.09 to your bottom line. And you used the upper 30% tax rate to do that. My question is, going forward, for your net income, do you expect that your tax expense will be around that same 37%, for book purposes, I understand you have tax losses for cash purposes.
Alan Levin - CFO
That tax rate is -- that is the effective tax rate that we'll continue to use at least at the present time, unless something changes.
Unverified Participant
Great. And how many years do the tax losses -- are the tax losses available to you before they expire?
Alan Levin - CFO
I'm fairly certain they begin to expire in -- I want to say 2023.

http://seekingalpha.com/article/2815265-national-holding-corporations-nhld-ceo-robert-fagenson-on-q4-fiscal-2014-results-earnings-call-transcript