rating loss deduction). (Leave no answer blank. Enter zero if applicable.)                                                                b. What is WCC’s taxable income in 2021 and 2022 (after the net operating loss deduction), assuming the $125,000 NOL carryover originated in 2020 and WCC elected to not carry back the loss?

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Fringe Benefit Tax

Fringe benefits are in addition to the compensation that companies give to their employees. It is an additional benefit above the stated salary. It helps to keep the employees of the firm motivated as sometimes the only salary is not enough to retain the quality employees of the firm. There are different types of fringe benefits. Fringe benefits are given in both private as well as public enterprises.