net operating loss

The excess of operating expenses over revenues, the amount of which can be deducted from gross income if other deductions do not exceed gross income. — Abbr. NOL. [Cases: Internal Revenue 3399. C.J.S. Internal Revenue § 200.]

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词条贡献者

译者崇载，国际名校知识产权法专业，擅长翻译各种与知识产权相关的法律文件。