Net operating loss deduction definition

Net operating loss deduction means the amount allowed as a deduction for the net operating loss carryover to the privilege period, calculated as follows:
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Net operating loss deduction means the portion of the net operating loss carryover that may be deducted from the taxpayer's apportioned net income under the Internal Revenue Code as of January 1, 2018 for the taxable year in which the deduction is taken, including the eighty percent limitation of Section 172(a) of the Internal Revenue Code as of January 1, 2018 calculated on the basis of the taxpayer's apportioned net income;
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Net operating loss deduction means the aggregate of the apportioned net operating loss carryovers to the taxable year.
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Examples of Net operating loss deduction in a sentence

  • Net operating loss deduction (from Form NYC-2.4, Schedule A, line 6) 35.36.

  • The preacquisition part year and each par- tial postacquisition year shall be con- sidered a separate taxable year, but only for the limited purpose of apply- ing sections 172(b)(2) and 381(c)(1)(C).(3) Net operating loss deduction.

  • The order in which the loss is absorbed (and in which it absorbs the section 382 limitation (see§1.383-1(d)(2)), however, is determined in a manner consistent with the principles of section 172 or 1212, as applicable, and paragraph (d)(2) of this section.(2) Net operating loss deduction and capital loss carrybacks and carryovers.

  • Fill in if minus:24 Net operating loss deduction for years before 2000.25 Net income after NOL deduction.

  • Line 10 - Net operating loss deduction from preceding year Enter the deduction for net operating loss from prior years, without taking into consideration any amount of income or deduction that is excludedfrom the computation of net unrelated business income.

  • You must recapture the overall lossloss in a given year.2) Add: Part of itemized deductionsregardless of whether you chose to claim the 1) Net operating loss deduction.

  • Thus, if in a statutory merger to which section 361 applies Y Corporation acquires the assets of X Corporation on June 30, 1960, and Y Corporation has taxable income (computed in the man- ner so prescribed) of $36,600 for its cal- endar year 1960, then the preacquisi- tion part year taxable income would be$18,200 ($36,600× 182/366 ) and the postac-quisition part year taxable income would be $18,400 ($36,600× 184/366 ).(6) Net operating loss deduction.

  • Net operating loss deduction (see instructions - attach schedule)....................b.

  • Thus, if in a statutory merger to which section 361 applies Y Corporation acquires the assets of X Corporation on June 30, 1960, and Y Corporation has taxable income (computed in the man- ner so prescribed) of $36,600 for its cal- endar year 1960, then the preacquisition part year taxable in- come would be $18,200 ($36,600× 182/366) and the postacquisition part year tax- able income would be $18,400 ($36,600× 184/366).(6) Net operating loss deduction.

  • Line 17 – Net operating loss deduction: If the tax-option (S) corporation portion of the trust is claiming a Wisconsin net operating loss deduction (NOLD), enclose a schedule similar to Wisconsin Schedule NOL1, Wisconsin Net Operating Loss Deduction, reflecting the computation of the Wisconsin NOLD.


More Definitions of Net operating loss deduction

Net operating loss deduction means the aggregate of the apportioned net
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Net operating loss deduction means the portion
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Net operating loss deduction means the portion of the net
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Related to Net operating loss deduction

  • Operating Revenue means amounts accrued or charge to customers, cli- ents, and tenants, for the sale of prod- ucts manufactured or purchased for re- sale, for services, and for rentals of property held primarily for leasing to others. It includes both reimbursable costs and fees under cost-type con- tracts and percentage-of-completion sales accruals except that it includesonly the fee for management contracts under which the contractor acts essen- tially as an agent of the Government in the erection or operation of Govern- ment-owned facilities. It excludes inci- dental interest, dividends, royalty, and rental income, and proceeds from the sale of assets used in the business.

  • Net Loss means, for each fiscal year or other applicable period, an amount equal to the Partnership’s taxable income or loss for such year or period as determined for federal income tax purposes by the General Partner, determined in accordance with Section 703(a) of the Code (for this purpose, all items of income, gain, loss or deduction required to be stated separately pursuant to Section 703(a) of the Code shall be included in taxable income or loss), adjusted as follows: