if you take a loss on your business do you pay taxes
Determining NOL Amount. If your business expenses are more than your business income, you may have a net operating loss (NOL) for the year. However, simply having a negative amount on the taxable income line on your income tax return is not a guarantee that you actually have a net operating loss.f you have a net operating loss from your sole proprietorship, you'll normally be able to deduct the loss from your total income from other business ventures or from any salary, wages, or other earnings.