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Tuesday, December 01, 2009 10:45:52 AM
Claiming NOLs is not the same as carrying back NOLs 5 years.
If a company had say $16 billion in NOLs and that company received TARP funds, that does not mean that the company loses the $16 billion in NOLs, and someone who has worked with tax law for years would know this.
The AMOUNT of NOLs is not increased or decreased depending on whether or not a company took TARP funds, and the AMOUNT of NOLs has absolutely nothing to do with TARP or the new legislation. The amount of the NOLs is the amount of the NOLs. What one can do with the NOLs is what is affected by the legislation.
Numbers don't lie, people do.
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