MLchartDataset catalogue

Loss carryover

Term · Law · MLC-T-LAW-003095

A provision in tax law that permits a taxpayer to apply a net operating loss from one tax year against taxable income in future tax years. This mechanism reduces the tax burden in profitable years following a period of financial deficit. The Internal Revenue Code specifies the number of years a loss can be carried forward.

Table 1. Record
IdentifierMLC-T-LAW-003095
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-003095",
  "term": "Loss carryover",
  "field": "Law",
  "definition": "A provision in tax law that permits a taxpayer to apply a net operating loss from one tax year against taxable income in future tax years. This mechanism reduces the tax burden in profitable years following a period of financial deficit. The Internal Revenue Code specifies the number of years a loss can be carried forward.",
  "url": "https://mlchart.com/terminology/law/loss-carryover/"
}

Record 3,057 of 5,445 in Law terminology (MLC-0107). Request the full dataset.