Loss adjustment definition

Loss adjustment means the amount by which adjusted business income was less than zero in any of the 5 tax years immediately preceding the tax year for which eligibility for the credit under this section is being determined. In determining the loss adjustment for a tax year, a taxpayer is not required to use more of the taxpayer's total negative adjusted business income than the amount needed to qualify the taxpayer for the credit under this section. A taxpayer shall not be considered to have used any portion of the taxpayer's negative adjusted business income amount unless the portion used is necessary to qualify for the credit under this section. A taxpayer shall not reuse a negative adjusted business income amount used as a loss adjustment in a previous tax year or use a negative adjusted business income amount from a year in which the taxpayer did not receive the credit under this section.
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Loss adjustment has the meaning set forth in Section 5.12(g) of this Agreement.
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Loss adjustment means the amount by which adjusted business income was less than zero in any of the 5 tax years immediately preceding the tax year for which eligibility for the credit under this section is being determined. . . .
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Examples of Loss adjustment in a sentence

  • Loss adjustment expense as defined above does not include unallocated loss adjustment expense.

  • The Target Award Number after giving effect to each such Net Operating Loss adjustment is referred to herein as the “NOL Adjusted Target Award Number.” If the Company does not incur a Net Operating Loss in any year in the Performance Period, your NOL Adjusted Target Award Number will be the same as your Target Award Number.

  • Loss adjustment, other underwriting and investment expenses are the broad classifications that UAT applies to.

  • Loss adjustment expense recoveries paid by the FHCF in excess of the actual loss adjustment expense paid by the Company shall inure to the benefit of the Company and shall not reduce the amount of ultimate net loss hereunder.

  • Loss adjustment (in accordance with the terms of article 1075 of the Civil Code of Quebec) The indemnity owing to the syndicate following a substantial loss is, notwithstanding article 2494, paid to the trustee appointed in the constituting act of co-ownership or, where none has been appointed, designated by the syndicate.

  • For purposes of operational analysis and financial reporting, functional expense groups are made up of three primary categories: (1) Loss adjustment expenses, (2) Other underwriting expenses; and (3) Investment expenses.

  • A brief description of each of the three expense categories follows: • Loss adjustment expenses are various costs associated with the claim handling process.

  • All communications, including notices, premiums, return premiums, commissions, taxes, Losses, Loss adjustment expenses, salvages and Loss settlements relating thereto shall be transmitted to the Reinsurer or the Company through Sedgwick Re, Inc., 6600 France Avenue South, Suite 510, Edina, MN 55435.

  • Loss adjustment expense in respect of Extra Contractual Obligations and Loss in Excess of Policy Limits shall be covered under this Agreement in the same manner as other loss adjustment expense.

  • The Target Award Number after giving effect to any such Net Operating Loss adjustment is referred to herein as the “NOL Adjusted Target Award Number.” If the Company does not incur a Net Operating Loss in any year in the Performance Period, your NOL Adjusted Target Award Number will be the same as the Target Award Number.


More Definitions of Loss adjustment

Loss adjustment means the amount by which adjusted business income was less than zero in any of the 5 tax years immediately preceding the tax year for which eligibility for the credit under this section is being determined. In determining the loss adjustment for a tax year, a corporation is not required to use more of the taxpayer’s total negative adjusted business income than the amount needed to qualify the corporation for the credit under this section. A corporation shall not be considered to have used any portion of the taxpayer’s negative adjusted business income amount unless the portion used is necessary to qualify for the credit under this section. A corporation shall not reuse a negative adjusted business income amount used as a loss adjustment in a previous tax year or use a negative adjusted business income amount from a year in which the corporation did not receive the credit under this section.
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Loss adjustment shall equal the amount of any Losses for which Acquiror Indemnified Persons are entitled to indemnification pursuant to Section 9.02. The Company will use its best efforts to close its books and records for the period ending on the Closing Date within five (5) days after the Closing Date and shall deliver to the Acquiror or, at the request of the Acquiror, to Acquiror and ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ LLP, such books and records as shall be requested by Acquiror or ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ LLP to enable ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ LLP to perform an audit of the consolidated financial statements of the Company as of the Closing Date and to determine the amount of the Closing Adjustment and the Loss Adjustment. Upon receipt of such books and records, the Acquiror shall use its best efforts to cause ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ LLP to complete an audit of the consolidated financial statements of the Company in order to provide Acquiror the information necessary to calculate the amount of the Closing Adjustment and the Loss Adjustment within sixty (60) days following receipt of the books and records of the Company. Acquiror shall deliver to the Stockholders' Representatives a draft copy of such audited financial statements and the draft determination of the amount of the Closing Adjustment and the Loss Adjustment promptly upon receipt of such items from ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ LLP. The Stockholders' Representatives shall have the right to review and copy the computations and review workpapers used in connection with the preparation of the audited financial statements after providing ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ LLP with written releases reasonably acceptable to ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ LLP and the computation of the Closing Adjustment and the Loss Adjustment. If the Stockholders' Representatives disagree with the determination of the Closing Adjustment or the Loss Adjustment, the Stockholders' Representatives shall so notify the Acquiror in writing within ten (10) days after the date of their receipt of the audited financial statements and the computation of the Closing Adjustment and the Loss Adjustment, specifying in detail any point of disagreement; PROVIDED, HOWEVER, that if the Stockholders' Representatives fail to notify the Acquiror in writing of the Stockholders' Representatives' disagreement within such ten (10) day period, the determination of the Closing Adjustment and the Loss Adjustment shall be final, conclusive and binding on the Parties for purposes of determining the amount of the Escrow Stock to be delivered to Company...
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Loss adjustment. Annual experience prior to 1956 was not available, but MetLife maintained a LOB surplus account that established the amount of cumulative losses for the individual medical line as of December 31, 1995. The loss per $1 premium for policies issued 1952 through 1955 was determined by distributing this negative surplus for the LOB as of December 31, 1955 equally over the four years and dividing by the 1956 premium. Negative surplus, available from MetLife records as of December 31, 1959 was adjusted back to December 31, 1955 using model losses for the interim years.
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Loss adjustment means the sum of Forty Thousand Dollars ($40,000.00).
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Loss adjustment means the amount by which adjusted business income was less than zero in any of the 5 years immediately preceding the tax year for which the eligibility for this credit is being determined. In determining the loss adjustment in a previous year, a negative adjusted business income amount can not be carried from a year in which the taxpayer did not receive a small business credit. (MCL 208.36(1)(e))
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Related to Loss adjustment

  • Loss Adjustment Expense means costs and expenses incurred by the Company in connection with the investigation, appraisal, adjustment, settlement, litigation, defense or appeal of a specific claim or loss, or alleged loss, including but not limited to:

  • Loss Adjustment Expenses means all costs and expenses incurred by the Company in the investigation, adjustment and settlement of claims. Loss adjustment expenses include third-party costs as well as the Company’s internal expenses, including salaries and expenses of loss management personnel and certain administrative costs.

  • Allocated Loss Adjustment Expenses or “ALAE” means all court costs and court expenses; pre- and post-judgement interest; fees for service of process; attorneys’ fees; cost of undercover operative and detective services, costs of employing experts; costs for legal transcripts; costs for copies of any public records; costs of depositions and court-reported or recorded statements; costs and expenses of subrogation; and any similar fee, cost or expense reasonably chargeable to the investigation, negotiation, settlement or defense of a loss or a claim or suit against you, or to the protection and perfection of your or our subrogation rights.

  • Monthly Loss Amount means the sum of all Foreclosure Losses, Restructuring Losses, Short Sale Losses, Portfolio Losses, Modification Default Losses and Deficient Losses realized by the Assuming Institution for any Shared Loss Month.

  • Final Shared-Loss Recovery Month means the calendar month in which the tenth anniversary of the Commencement Date occurs.