What is TAX CARRYFORWARD?

Tax benefits occured when losses are applied to future tax liability. This can be done for between 5 and 15 years. AKA carry forward loss. Refer to tax carry back and tax umbrella.

More On This Topic
  1. What is FED MED/EE Tax?
  2. What Does Fed OASDI/EE Mean on a Paycheck?
  3. 401(K) Types, Loans, Contribution Limits, & Benefits
  4. Marijuana: Recreational, Grow, & Medical Laws By State 2020
  5. Does California Have An Inheritance Tax?
  6. W-4: What It Is, Who They’re For, & How To Fill It Out
  7. Best Way to get a Copy of Last Year’s Tax Return
  8. What Does A Tax Write-Off Mean?
  9. How Do Inheritance Tax Laws Work?
  10. How Much Tax Do You Have to Pay on Dividends?

Related Legal Terms
TAX CARRYBACK, LOSS CARRYFORWARD, TAX LOSS CARRY BACK, PROSPECTIVE RATING PLAN, PROSPECTIVE RATING, TAX LOSS CARRY FORWARD, CAPITAL LOSS CARRYOVER, FORWARD PRICE, REVERSE CASHANDCARRY ARBITRAGE, ACTUARIAL ACCRUED LIABILITY


Link to This Definition
Did you find this definition of TAX CARRYFORWARD helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary