Net operating loss definition
Net operating loss means a loss incurred by a person in the operation of a trade or business. "Net operating loss" does not include unutilized losses resulting from basis limitations, at-risk limitations, or passive activity loss limitations.
Net operating loss means the excess of the deductions over the
Net operating loss means the negative taxable income that may result after the deductions allowed by the Business License Law in determining net income for the tax year.
Examples of Net operating loss in a sentence
If a Net Operating Loss occurs, the loss will first be funded by the available balance of the Operating Reserve in the Recycling Surcharge Fund and, secondly, if the Operating Reserve is exhausted, then immediately from Mid-Shore Counties via County Payments.
More Definitions of Net operating loss
Net operating loss means a loss incurred by a person in the operation of a trade or business. For a person who is not an individual, net operating loss must be calculated on an adjusted federal taxable income basis without regard to the deduction for net operating losses contained in ORC 718.01 E(8). "Net operating loss" does not include unutilized losses resulting from basis limitations, at-risk limitations, or passive activity loss limitations.
Net operating loss means any net operating loss, as defined by Section 172(c) of the Internal Revenue Code, as that section may be amended or renumbered, for a taxable year as further increased by the income, if any, from obligations of the United States for that year less related expenses;
Net operating loss means for any year in the Performance Period, that the Company reports a net loss in the Company's consolidated financial statements, and a net loss continues to exist after eliminating the effect of the following items, each determined based on generally accepted accounting principles: (i) losses resulting from discontinued operations; (ii) the cumulative effect of changes in generally accepted accounting principles; and (iii) any other unusual or infrequent loss which is separately identified and quantified.
Net operating loss mean, for each Fiscal Year, an amount equal to the Partnership’s items of taxable income or loss for the Fiscal Year, determined in accordance with Code Section 703(a)(1) and including items required to be separately stated, with the following adjustments:
Net operating loss means a net operating loss for income tax purposes occurring in the two taxable years preceding the year in which the sale of net operating loss carryover occurs.
Net operating loss means the portion of the reasonable costs of operating an intercity bus service route that cannot rea- sonably be financed from revenues derived from the route.