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:
- 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 ...
- 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 ...
- 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 ...
- 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 ...
- 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 ...
- 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 ...
- 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 ...
- 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 ...