MLchartDataset catalogue

Loss carryforward

Term · Insurance and risk management · MLC-T-INS-003682

A tax provision that allows a business or individual to apply current year losses against future taxable income. In insurance, this can apply to underwriting losses that exceed taxable income in a given period, reducing the tax burden in subsequent profitable years. The Internal Revenue Service (IRS) sets specific rules for the duration and amount of net operating losses that can be carried forward.

Table 1. Record
IdentifierMLC-T-INS-003682
FieldInsurance and risk management
Record as JSON 
{
  "id": "MLC-T-INS-003682",
  "term": "Loss carryforward",
  "field": "Insurance and risk management",
  "definition": "A tax provision that allows a business or individual to apply current year losses against future taxable income. In insurance, this can apply to underwriting losses that exceed taxable income in a given period, reducing the tax burden in subsequent profitable years. The Internal Revenue Service (IRS) sets specific rules for the duration and amount of net operating losses that can be carried forward.",
  "url": "https://mlchart.com/terminology/insurance/loss-carryforward/"
}

Record 1,982 of 3,682 in Insurance and risk management terminology (MLC-0106). Request the full dataset.