Genesis HealthCare (GHCI)

GHCI » Topics » Realization of the tax benefit relating to our net operating loss carryforward is subject to numerous risks.

This excerpt taken from the GHCI 10-K filed Dec 14, 2006.

Realization of the tax benefit relating to our net operating loss carryforward is subject to numerous risks.

We estimate our net operating loss carryforward is approximately $83.2 million at September 30, 2006 after giving effect to NCI’s consolidated federal tax return completed for the period ended September 30, 2004. However, such net operating loss carryforward may further need to be adjusted pending settlement of any federal tax audit of tax years ending on or before that date which could materially reduce, or even eliminate, our estimated net operating loss carryforward. The amount and timing of any realized tax benefit resulting from the utilization of the net operating loss carryforward is a function of future taxable income, multiple change of ownership limitations

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imposed by Section 382 of the Internal Revenue Code of 1986, as amended, contractual limitations imposed by the tax sharing agreement with NCI, and the term of the carryforward period.

This excerpt taken from the GHCI 10-K filed Jun 20, 2006.

Realization of the tax benefit relating to our net operating loss carryforward is subject to numerous risks.

We estimate our net operating loss carryforward is approximately $120.9 million at September 30, 2005 after giving effect to NCI’s consolidated federal tax return completed for the period ended September 30, 2004. However, such net operating loss carryforward may further need to be adjusted pending settlement of any federal tax audit of tax years ending on or before that date which could materially reduce, or even eliminate, our estimated net operating loss carryforward. The amount and timing of any realized tax benefit resulting from the utilization of the net operating loss carryforward is a function of future taxable income, multiple change of ownership limitations imposed by Section 382 of the Internal Revenue Code of 1986, as amended, contractual limitations imposed by the tax sharing agreement with NCI, and the term of the carryforward period.

This excerpt taken from the GHCI 10-K filed Dec 14, 2005.
Realization of the tax benefit relating to our net operating loss carryforward is subject to numerous risks.

     We estimate our net operating loss carryforward is approximately $120.9 million at September 30, 2005 after giving effect to NCI’s consolidated federal tax return completed for the period ended September 30, 2004. However, such net operating loss carryforward may further need to be adjusted pending settlement of any federal tax audit of tax years ending on or before that date which could materially reduce, or even eliminate, our estimated net operating loss carryforward. The amount and timing of any realized tax benefit resulting from the utilization of the net operating loss carryforward is a function of future taxable income, multiple change of ownership limitations imposed by Section 382 of the Internal Revenue Code of 1986, as amended, contractual limitations imposed by the tax sharing agreement with NCI, and the term of the carryforward period.

     

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