carry-over

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carry-over

[′kar·ē ‚ō·vər]
(chemical engineering)
Unwanted liquid or solid material carried by the overhead effluent from a fractionating column, absorber, or reaction vessel.
(hydrology)
The portion of the stream flow during any month or year derived from precipitation in previous months or years.
References in periodicals archive ?
As the Newton case illustrates, it is important for taxpayers to timely make the election to waive the carryback period or to file claims for refunds within the statute of limitation.
In addition to the general business credit carryback, the Small Business Jobs Act authorized general business credits for eligible small businesses to offset alternative minimum tax (AMT) during 2010 and for the five-year carryback period.
In light of the economic recession, many companies will file applications for tentative refund claims (Form 1139) for carrybacks of net operating and capital losses and unused business credits.
* In almost all cases the IRS considers the merits of a carryback claim filed on Form 1120X before it issues the requested refund; and
This is especially true with respect to carrybacks of NOLs--which, unlike for federal returns, the majority of states do not allow--and carryforwards.
Generally, a taxpayer may elect an extended carryback period for only one tax year.
New York is among the states that incorporate the extended carryback period.
The current carryback and carryforward periods were most recently set by the Taxpayer Relief Act of 1997, not for any policy reason but simply as a budgeting gimmick.
There is a 2008 NOL carryback to 2006 resulting in a tax decrease of $25,000, and the IRS issued a refund on March 15, 2009.
* Recently expanded temporaw provisions for extended carryback of net operating losses (NOLs) can help provide a needed cash infusion for business taxpayers by offsetting net income in previous years, resulting in a tax refund.
17, allows an eligible small business (ESB) to elect to carryback an "applicable 2008 net operating loss" (NOL) for a period of three, four or five years.
The Court considered whether an affiliated group of corporations filing a consolidated tax return must calculate product liability losses (PLL) subject to a 10-year carryback provision on a consolidated basis, or on a separate company basis.