RE: anyone have details on the tax credit? tax credits are not used on an annual statement unless the copany is showing a profit
Only x amount of tax credits can be used on a particular year and as a percentage of over all
You cannot use 10 million in fed tax credits to offst 10 million in operating profit
The tax credit has to be in line with the length of time the assett is written down over
Tax credits are capital cost carry fwds and are seperate from operational loses on a carry fwd basis
Gaap accounting, but not may not apply to special causes like the creation of this sector but pretty much should be with ibn reason of such