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

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