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Net operating losses (NOLs) in bankruptcy

There is a likelihood that a businesses facing bankruptcy has net operating losses (NOLs).  These NOLs might be available to offset taxable income in not only current and future years but also past years to a limited extent. Understanding the value of the NOLs is relevant to a feasibility analysis in confirming a chapter 11 plan.  In addition, under stock sales, the NOLs might be able to be transferred to the purchaser.  You should consult with a tax expert to determine the impact NOLs have on your business and specific goals you seek to accomplish.

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The firm serves its clients by listening to and understanding their needs and then providing appropriate advice and representation. In addition to general civil litigation and business law, the firm focuses on collections, bankruptcy and commercial litigation.