tax loss carryback

Carryback

In accounting, a way for a company to reduce its tax liability by applying a net operating loss to previous years in which it made a profit. If a company deducts more than its net income in a given tax year, it may take the difference between the deduction and the net income (a negative number) and apply it as a deduction on taxable income for the previous five years. For example, if a company makes $1,000,000 in one year, and loses $500,000 the following year, it may only be liable for a $500,000 profit on the year it makes a profit. That is, it may receive a tax refund on part of what it paid for the profitable year. See also: Future Income Tax.

tax loss carryback

See carryback.

单词	tax loss carryback
释义	LegalSeecarryback tax loss carryback Carryback In accounting, a way for a company to reduce its tax liability by applying a net operating loss to previous years in which it made a profit. If a company deducts more than its net income in a given tax year, it may take the difference between the deduction and the net income (a negative number) and apply it as a deduction on taxable income for the previous five years. For example, if a company makes $1,000,000 in one year, and loses $500,000 the following year, it may only be liable for a $500,000 profit on the year it makes a profit. That is, it may receive a tax refund on part of what it paid for the profitable year. See also: Future Income Tax. tax loss carryback See carryback.
随便看	take somebody to take somebody to court take somebody to law take somebody to one side take somebody to pieces take somebody to task take somebody to the cleaner's take somebody to the cleaners take somebody to the mat take somebody to the woodshed take somebody unawares take somebody under your wing take somebody up take somebody with take somebody wrong take some doing take (some) heat take some heat take some nerve take some nerve to take some nerve (to do something) take some nerve to do something take someone aback take someone aboard take someone across