- carryforward
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Merriam-Webster’s Dictionary of Law. Merriam-Webster. 1996.
carryforward
Look at other dictionaries:
carryforward — car‧ry‧for‧ward [ˈkæriˌfɔːwəd ǁ ˌfɔːrwərd] noun [countable] ACCOUNTING TAX an amount of money earned or spent in a particular year which is carried forward from one accounting period to a later period, usually in order to reduce the amount of tax … Financial and business terms
carryforward — noun Date: 1898 carryover … New Collegiate Dictionary
carryforward — /kar ee fawr weuhrd/, n. 1. carry over. 2. (in U.S. income tax law) a special provision allowing part of a net loss or of an unused credit in a given year to be apportioned over one or two subsequent years, chiefly in order to ease the tax burden … Universalium
carryforward — noun An income tax loss or credit not usable in the current year that can be applied to offset income or taxes paid, respectively, in subsequent tax years … Wiktionary
carryforward — /kar ee fawr weuhrd/, n. 1. carry over. 2. (in U.S. income tax law) a special provision allowing part of a net loss or of an unused credit in a given year to be apportioned over one or two subsequent years, chiefly in order to ease the tax burden … Useful english dictionary
Tax Loss Carryforward — A tax loss carryforward takes place where a business or individual reports losses on a tax return up to seven years after the loss occurred. Frequently the logic behind this is to reduce tax liability during a year where the income or profits are … Investment dictionary
tax loss carryforward — tax loss carryback, carryforward A provision in the Internal Revenue Code which allows an individual or corporation to apply current year losses against prior or subsequent year income to reduce their tax liability … Black's law dictionary
tax loss carryback, carryforward — A provision in the Internal Revenue Code which allows an individual or corporation to apply current year losses against prior or subsequent year income to reduce their tax liability … Black's law dictionary
Loss Carryforward — An accounting technique that applies the current year s net operating losses to future years profits in order to reduce tax liability. Generally accepted accounting principles (GAAP) specify that loss carryforwards can be used in any one of the… … Investment dictionary
tax loss carryback, carryforward — A tax benefit that allows business losses to be used to reduce tax liability in previous and or following years. Bloomberg Financial Dictionary … Financial and business terms
