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Net operating loss information


Under U.S. Federal income tax law, a net operating loss (NOL) occurs when certain tax-deductible expenses exceed taxable revenues for a taxable year.[1] If a taxpayer is taxed during profitable periods without receiving any tax relief (e.g., a refund) during periods of NOLs, an unbalanced tax burden results.[2] Consequently, in some situations, Congress allows taxpayers to use the losses in one year to offset the profits of other years.

  1. ^ Kieso, Weygandt J. and Terry D. Warfield. Fundamentals of Intermediate Accounting, John Wiley & Sons, 2006. p.699 ISBN 0-471-75272-X
  2. ^ Donaldson, Samual A. Federal Income Taxation of Individuals: Cases, Problems and Materials, ThomsonWest, 2 ed. 2007. p.301 ISBN 978-0-314-17597-7

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eliminated the net operating loss carryback, a procedure by which a company with significant losses could receive a tax refund by counting the losses as part...

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shareholder's taxable income should be computed without including net operating losses (NOL's), capital loss carrybacks, and the dividends received deduction. In order...

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company converted to a C corporation to use its net operating loss carry-forwards and net capital loss carry-forwards to shield substantially all of its...

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immigrant trade. Despite this, during 1933 and 1934, Olympic ran at a net operating loss for the first time. 1933 was Olympic's worst year of business – carrying...

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States) 107–147 (text) (PDF), 116 Stat. 21), increased carryback of net operating losses to 5 years (through September 2003), extended the exception under...

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of cash, and $4 billion of net operating loss ("NOL") tax credits. Jefferies remains independent and is the largest operating company within Leucadia. Richard...

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limitations on deduction of itemized deductions. Any loss exceeding current income may result in a net operating loss, which can be carried back, at the taxpayer's...

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the net operating loss carryback, assistance with payroll costs, and expansion of employee retention tax credits to retailers with financial losses related...

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