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 factors include but are not limited to loss development factors, frequency trend factors, and severity trend factors.

  • Loss adjustment expenses including, but not limited to, auditors, consultants and accountants.

  • 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.

  • Loss adjustment expenses not classified as a cost containment expense.

  • Loss adjustment expense is statutorily set at 5% of losses recoverable from the FHCF.

  • Loss adjustment needed for current return..........................

  • LOBIndustry Countrywide Expense RatiosIndustry LOBCompany Countrywide Expense RatiosCompany PPA Liab = Private Passenger Automobile LiabilityPPA PD = Private Passenger Automobile Physical Damage HO = Homeowners Multiple PerilCA Liab = Commercial Automobile LiabilityCA PD = Commercial Automobile Physical Damage CMP = Commercial Multiple PerilLAE = Loss adjustment expenseAcq.

  • Loss adjustment activities are any activities outlined in this handbook, of which the persons listed in (2) are prohibited from doing, unless otherwise stated in this handbook.

  • Loss adjustment expenses (“LAE”) are recorded by the Company in regard to insurance guaranties when costs are incurred or expected to be incurred to remediate probable losses under its policies.

  • Loss adjustment activities would also include any revisions or additions to the contents of this handbook via Manager’s Bulletins.


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 Xxxxxx Xxxxxxxx LLP, such books and records as shall be requested by Acquiror or Xxxxxx Xxxxxxxx LLP to enable Xxxxxx Xxxxxxxx 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 Xxxxxx Xxxxxxxx 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 Xxxxxx Xxxxxxxx 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 Xxxxxx Xxxxxxxx LLP with written releases reasonably acceptable to Xxxxxx Xxxxxxxx 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 means the sum of Forty Thousand Dollars ($40,000.00).
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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 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 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.

  • Modification Loss Amount With respect to each Payment Date, the excess, if any, of the aggregate Modification Shortfall over the aggregate Modification Excess for such Payment Date.

  • Net Loss means, for each fiscal year or other applicable period, an amount equal to the Partnership’s taxable income or loss for such year or period as determined for federal income tax purposes by the General Partner, determined in accordance with Section 703(a) of the Code (for this purpose, all items of income, gain, loss or deduction required to be stated separately pursuant to Section 703(a) of the Code shall be included in taxable income or loss), adjusted as follows:

  • Loss or Losses means all losses, damages, liabilities, deficiencies, claims, actions, judgments, settlements, interest, awards, penalties, fines, costs or expenses of whatever kind, including reasonable attorneys' fees and the costs of enforcing any right to indemnification hereunder and the cost of pursuing any insurance providers.