Net Operating Loss (NOL)
- A yearly financial loss in a business that can be used to lessen the owner's income from other sources in the same year, or it can be applied to tax liabilities of the past two years to lower taxes or get tax refunds
- After a tough year, the store was facing a Net Operating Loss (NOL).
- The business owner was able to use the Net Operating Loss (NOL) from their failing venture to offset profits from their successful ventures.
- The accountant suggested carrying back the Net Operating Loss (NOL) two years to reduce tax liabilities.
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