Imagination TV Inc. (IMTV)

[perchy]

$234,813 Net Loss vs 10 to 15 millions for the shows this fall!
Win, win for ICPA!

Most companies try to! Who wants to pay taxes!

Investopedia explains 'Net Operating Loss - NOL'
If a company has a net operating loss, it can apply this tax relief in two ways: it can apply the net operating loss to its past tax payments and receive a tax credit; or it could apply the net operating loss to future income tax payments, reducing the need to make payments in future periods. The terms of the tax relief and how it can be applied varies by jurisdiction but usually the NOL can be applied to the past few years (two to three) and much more to the future (seven to 10) years.

Read more: http://www.investopedia.com/terms/n/netoperatingloss.asp#ixzz24tGzfDMC