Which of the following statements is incorrect regarding the taxation of C corporations for tax years beginning after 2017?
A. NOLs are subject to a 2-year carryback and 20-year carryforward period.
B. Taxable income of a personal service corporation is taxed at a flat rate of 21%.
C. A tax return must be filed whether or not the corporation has taxable income.
D. The alternative minimum tax does not apply.
E. None of these.
Answer: A
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