Examlex
Regular sponsorship occurs when:
Pre-Tax Operating Loss
The loss a company incurs from its operations before accounting for taxes, indicating how well the core business is performing.
Carryback
A tax provision that allows individuals or businesses to apply a current year's net operating losses to previous years' profits to reduce tax liabilities.
Carryforward
A tax policy that allows individuals or companies to apply current year’s unused deductions or credits to future tax years.
Corporation
A legal entity that is separate from its owners, having its own rights and obligations, and is able to own assets, incur liabilities, and sell securities.
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