Instructions: Due SUnday At least 3 paragraphs long with 3 peer-reviewed references. Black, Brown, and Red corporations are considering a

Instructions: Due SUnday

At least 3 paragraphs long with 3 peer-reviewed references.

Black, Brown, and Red corporations are considering a corporate restruc-turing that would allow them to file Federal income tax returns on a consolidated basis. Black holds significant NOL carryforwards from several years ago, all after 2017. Brown always has been profitable and is projected to remain so. Red has been successful, but its product cycles are mature and operating losses are likely to begin three years from now and last for a decade. What tax issues should the corporations consider before electing to file on a consolidated basis?  Do you feel that consolidated returns are often a better way to present data?

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