Exchange Currency

net operating loss carry backs

Tax filing claims by a company to offset profits in prior years with a pre-tax loss in the current year. For example, a company with a net loss of $50,000 may claim the loss against its $75,000 profit the year before. The company may claim all or a portion of that loss and could receive a tax refund on the previous year earnings. Opposite of net operating loss carry forwards.

Related information about net operating loss carry backs:
  1. What is net operating loss carry backs? definition and meaning
    Definition of net operating loss carry backs: Tax filing claims by a company to offset profits in prior years with a pre-tax loss in the current year. For example, a ...
     
  2. Net Operating Loss Carry-backs and Net Operating Loss Carry ...
    Apr 27, 2009 ... Net Operating Loss Carry-backs and Net Operating Loss Carry-Forwards. Tax law has long allowed individual taxpayers to carry back and to ...
     
  3. AB 2408 Assembly Bill - Bill Analysis
    Proposed Law Assembly Bill 2408 repeals net operating loss carry backs. State Revenue Impact Pending. AB 2408 - 6/13/12 -- Page 3 Comments 1. Purpose of ...
     
  4. Download Form - NYC.gov
    ration net operating loss carry backs see instructions to the NYC-3L,. NYC-4S and NYC4SEZ. If a corporation files a federal consolidated return, but for New York ...
     
  5. Conformity to IRC
    Arizona does not allow net operating loss carry backs for corporations. Arizona requires corporations to add back all net operating losses taken on their federal ...
     
  6. 353 U.S. 382
    ... the three succeeding years (§ 122(b)(2)(C)); and (3) that the aggregate of the net operating loss carry-backs and carry-overs applicable to a given taxable year ...
     
  7. 215 F.2d 518
    The amount of the net operating loss deduction shall be the aggregate of the net operating loss carry-overs and of the net operating loss carry-backs to the ...
     
  8. 288 F.2d 894
    ... of 1939, 26 U.S.C.A. § 322(c).1 Plaintiff, however, asserts that the Congress lifted the bar of § 322(c) with respect to net operating loss carry-backs by means of ...