Regis Corporation Adopts Tax Benefits Preservation Plan
Portfolio Pulse from Benzinga Newsdesk
Regis Corporation (NASDAQGM:RGS) has adopted a tax benefits preservation plan to protect its net operating loss carryforwards (NOLs) and other tax attributes. As of September 30, 2023, Regis reported approximately $646 million in U.S. federal NOLs, which are mostly not subject to expiration and can offset future taxable income.
January 30, 2024 | 11:36 am
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POSITIVE IMPACT
Regis Corporation's adoption of a tax benefits preservation plan aims to protect its significant NOLs, which can be used to offset future taxable income, potentially improving financial flexibility and profitability.
The adoption of the tax benefits preservation plan is directly related to Regis Corporation's financial strategy and is likely to be viewed positively by investors. The protection of NOLs ensures that the company can utilize these tax assets to potentially reduce future tax liabilities, which could lead to improved net income and cash flows. This strategic move is likely to have a positive short-term impact on the company's stock price as it reflects proactive financial management and the preservation of valuable tax assets.
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