Tax Loss


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Related to Tax Loss: tax loss carryforward

Tax Loss

A loss of value that results in a tax deduction. A tax loss may be a business loss or it may be the loss of a personal asset such as a house. For example, the amount one spends repairing a car after a wreck may be a tax loss.

In order to qualify as deductible, the loss must not be covered by insurance and (for the loss of an asset) must be the result of a real disaster such as theft. Gradual damage generally does not qualify.
References in periodicals archive ?
The defendant also appealed his sentence, arguing that the district court had improperly calculated the amount of tax loss resulting from the fraudulent returns.
To be globally competitive, Canada should implement a formal Loss-Transfer System--or otherwise provide for group tax loss relief.
They generally don't have a tax loss because the depreciated value of their contents is less than their insurance proceeds.
Of 30 OECD member countries, Canada is 1 of only 9 countries that does not provide group tax loss relief directly through its legislation.
TEl noted that a formal tax loss-transfer--or group tax loss relief--mechanism has been a matter of debate in Canada since the government eliminated the previous system in 1952.
A formal tax loss-transfer mechanism--or group tax loss relief--has been a matter of discussion in Canada for many years.
3 million in long-term obligations and recognized and extraordinary after tax loss of ($6.
Tax loss carryforwards were $96,474 for the second quarter of fiscal 1993 and $37,771 for that period a year ago.
As described in detail in the proxy statement/prospectus first mailed to stockholders on or about May 31, 2005, the common stock of Aether Holdings carries the same rights and obligations as common stock of Aether Systems, except that the Aether Holdings common stock is subject to certain transfer restrictions intended to help protect the long-term value of Aether's tax loss carryforwards.
Our tax loss carryforwards are a valuable asset to Aether and its stockholders and an important component of our business strategy," said David S.
Herndon forecasted that revenues for 1993 would reach $8 million, which should translate into a profit of $4 million or approximately 33 cents per share after taxes and allowance for tax loss carryforward.
8 million or 16 cents per share from the utilization of tax loss carryforwards and restructure of a portion of the company's 14-1/2 percent Subordinated Debentures.