Carryback n. The part of an income tax credit or deduction, such as a net operating loss, that cannot be entirely claimed in a given tax year, but that a person may apply against (and thereby reduce) his tax liability for a previous year.
Carryover n. The part of an income tax credit or deduction that cannot be entirely claimed in a given tax year, but that a person may apply against (and thereby reduce) their tax liability for a subsequent year.
Cartel n. A group of independent producers or sellers in a particular industry or a group of businesses with a common interest, who have joined together to reduce competition between themselves by allocating markets, sharing knowledge, or controlling the price and production of a product or service.
Case n. 1 An action, cause of action, controversy, proceeding, or suit at law or in equity filed with a court. 2 Same as trespass on the case. 3 The aggregate of the evidence presented at trial by a party in support of their argument or position.
Case law n. 1 The law based on judicial opinions, including decisions that interpret statutes, rather than law based on statutes and other sources. 2 The collection of reported judicial decisions within a particular jurisdiction dealing with a specific issue or topic.