Future Income Tax

In accounting, a way for a company to avoid taxes following years in which it had a net operating loss. If a company deducts more than its net income in a given tax year, it may take the difference between the deduction and the net income (a negative number) and apply it as a deduction on taxable income for up to 7-10 years. For example, if a company loses $500,000 in one year, and makes $1,000,000 the following year, it may only be liable for a $500,000 profit.

单词	future income tax
释义	Future Income Tax Future Income Tax In accounting, a way for a company to avoid taxes following years in which it had a net operating loss. If a company deducts more than its net income in a given tax year, it may take the difference between the deduction and the net income (a negative number) and apply it as a deduction on taxable income for up to 7-10 years. For example, if a company loses $500,000 in one year, and makes $1,000,000 the following year, it may only be liable for a $500,000 profit. AcronymsSeeFIT
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