Net Operating Loss Carryback
/ˌnɛt ˈɑpəˌreɪtɪŋ lɒs ˈkæriˌbæk/
Definitions
- (n.) A tax provision allowing a taxpayer to apply a net operating loss to past tax years, resulting in a refund of previously paid taxes.
The company filed a net operating loss carryback to recover taxes paid in prior years.
Forms
- net operating loss carryback
- net operating loss carrybacks
Related terms
See also
Commentary
Typically used in corporate and income tax contexts; precise rules and carryback periods vary by jurisdiction.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.