NOL carryforwards

NOL carryforwards: net operating loss carryforwards (NOL carryforwards)

USA

net operating losses (NOLs) can generally be carried back two years and carried forward up to 20 years to offset taxable income (IRC § 172). A taxpayer can make an election to waive the carryback period and use only the carryforward period. There are special rules that limit the use of NOL carryforwards after certain corporate ownership changes (see IRC § 382). A corporation generally does not assume the NOLs of another corporation except in certain tax-free reorganizations and subsidiary liquidations (see IRC § 381).

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net operating loss carryforwards — (NOL carryforwards) USA net operating losses (NOLs) can generally be carried back two years and carried forward up to 20 years to offset taxable income (IRC § 172). A taxpayer can make an election to waive the carryback period and use … Law dictionary
net operating losses — (NOLs) USA The excess of allowable deductions over gross income in a specific taxable year. A loss from operating a business is the most common reason for a NOL. NOLs can generally be carried back two years and carried forward up to 20 years to… … Law dictionary
NOLs — net operating losses (NOLs) USA The excess of allowable deductions over gross income in a specific taxable year. A loss from operating a business is the most common reason for a NOL. NOLs can generally be carried back two years and carried… … Law dictionary
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