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Institutional Financial Markets, Inc. Message Board

  • ethison ethison May 24, 2011 6:33 PM Flag

    Tax loss carry forwards

    I wonder at what point GAAP permits IFMI to put the value of its tax loss carry forward on the balance sheet.

    During the last CC they noted that between the operating and capital tax loss carry forwards (plus unrealized losses from the preferred shares of the unconsolidated CDOs) there was a total of $360 million available to offset future federal taxes. At a 35% federal corporate tax rate it would seem that they could in the future book a $126 million asset.

    GM was permitted to book this asset, when will IFMI be permitted to book this asset? It certainly is a valuable hidden asset............especially when the book value of the company is maybe $90 million and the market cap is only $50 to $60 million (including Daniel's ownership).

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