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Article: Hovnanian Enterprises Announces Anticipated Tax Refund.
- Article from:
- PR Newswire
- Article date:
- November 10, 2009
CopyrightCOPYRIGHT 2009 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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RED BANK, N.J., Nov. 10 /PRNewswire-FirstCall/ -- Hovnanian Enterprises, Inc. , a leading national homebuilder, announced today that due to a recent change in tax legislation, the Company can now carryback its anticipated 2009 net operating loss five years to previously profitable years that were not available to the Company for carryback prior to the new tax legislation. The Company anticipates recording a tax benefit in the first quarter of 2010 and receiving a federal income tax cash refund of approximately $250 million to $275 million during its second quarter of fiscal 2010.
About Hovnanian Enterprises
Hovnanian Enterprises, Inc., founded in 1959 ...
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