Loss carryback is a tax strategy that allows businesses to apply a net operating loss (NOL) from a current year to offset income from previous years, typically up to three years. This can result in a tax refund for taxes paid in those previous years.
An analysis of Net Operating Loss (NOL), detailing its definition, examples, frequently asked questions, related terms, resources, and suggested readings.
A Small Business Investment Company (SBIC) operates under the Small Business Investment Act of 1958 and provides financial assistance to small businesses.
