net operating loss
Definitions from Case Law · United States Supreme Court
Definitions from Case Law
From 338 U.S. 442 - Reo Motors, Inc. v. Commissioner · 1950Most cited · 69 citing opinions
A net operating loss must be computed on the basis of the tax laws applicable to the year in which the loss was suffered. The amount of net operating loss which may be utilized as a carry-over or carry-back and the extent to which it may be used as an offset to net income in another year depend upon the law of the year in which the 'carry' is effective, while the net operating loss deduction which may be taken in any one year depends upon the law in effect during that year.
How often courts cite the case defining “net operating loss”
Court decisions citing the opinion that defined “net operating loss” — 69 in all, by decade. Counts are citations to the defining case as a whole, not verified uses of the term. The dip in the most recent years is a data-coverage gap, not a real trend — our corpus holds fewer opinions from the latest years.