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I-Glow

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I-Glow

Re: JamStar post# 48546

Sunday, 10/21/2018 11:03:48 PM

Sunday, October 21, 2018 11:03:48 PM

Post# of 153950
Just for edification - not all NOLs pass through.

IRC Sections 382 and 383 limits the use of net operating losses if there is more than a 50% change in ownership. This is to prevent NOLs being used as assets.

I see this nonsense about NOLs all the time on iHub boards.

In a asset purchase there isn't any Liabilities - this stuff just keeps getting more amusing - filing for bankruptcy was to eliminate any Liabilities. SMH!

IG

"Are you gonna pull those pistols or whistle Dixie?"

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