offset
Defined in 4 dictionaries — U.S. Code, Ballentine's (1916), Bouvier (1914), Black's (1910)
United States Code
26 U.S.C. § 810 — for purposes of this section (5 versions over time)
For purposes of subsection (b)(2), the term “offset” means, with respect to any taxable year, an amount equal to that increase in the operations loss deduction for the taxable year which reduces the life insurance company taxable income (computed without regard to paragraphs (2) and (3) of section 804) 2 for such year to zero.
Ballentine's Law Dictionary
James A. Ballentine · 1916
Same as Setoff.
Bouvier's Law Dictionary and Concise Encyclopedia
John Bouvier; revised by Francis Rawle · 1914
See Set-Off.
Black's Law Dictionary
Henry Campbell Black, M.A. · 1910
A deduction; a counterclaim; a contrary claim or demand by which a given claim may be lessened or cancoled. See Leonard v. Charter Oak L. Ins. Co., 65 Conn. 529, 33 Atl. 511; Cable Flax Mills v. Early, 72 App. Div. 213, 76 N. Y. Supp. 191. The more usual form of the word is "set-off," (Q. v.)