products-liability loss:
(1978)
1. The total of a taxpayer’s products-liability expenses up to the amount of the taxpayer’s net operating loss. IRC (26 USCA) § 172(j)(1). — Abbr. PLL. See net operating loss. [1]
References:
Disclaimer: All material throughout this website is pertinent to people everywhere, and is being utilized in accordance with Fair Use.
[1]: Black’s Law Dictionary Deluxe Tenth Edition by Henry Campbell Black, Editor in Chief Bryan A. Garner. ISBN: 978-0-314-61300-4
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