Carryover refers to the practice of carrying forward certain financial statements or taxable amounts to future periods, allowing businesses and individuals to more effectively manage their finances and tax liabilities.
Detailed explanation of the carryover process utilized to apply tax deductions and credits from one taxable year against tax liabilities in future years.
The Libson Shops Doctrine refers to a Supreme Court ruling that limits the survival of net operating loss carryovers after a statutory merger, based on the continuity of enterprise theory.
