Examples of loophole in a Sentence
She took advantage of a loophole in the tax law.
His attorney has been hunting for a loophole that would allow him to get out of the deal.
tried to close a loophole in the new legislation
Recent Examples of loophole from the Web
Three bills were introduced last week that would close a loophole in state law that prohibited people from carrying concealed weapons into gun-free zones like schools and bars, but allows them to carry their weapons openly in those areas.
The law allows for little loopholes for cities to be more restrictive.
The best seats, the tax loopholes, the certainty that no matter what happens on the field your ROI makes everyone but Facebook’s initial investors jealous.
But the law hasn’t kept up with technology, creating a loophole that allowed the Russians to purchase ads without detection in 2016.
Critics, however, say that a loophole in that ban exempting Scouting groups chartered by religious organizations from accepting gay leaders undermines the change since roughly 72 percent of Scouting groups are run by religious organizations.
Feinstein, the original author of the nation's assault weapons ban, called the existence of bump stocks a loophole. California Sen. Kamala Harris and 25 other Senate Democrats joined Feinstein on the bill.
Paddock exploited a loophole when Oregon legalized bingo games for charitable or religious groups.
Of course, closing a loophole is going to hurt someone.
These example sentences are selected automatically from various online news sources to reflect current usage of the word 'loophole.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.
First Known Use of loophole
Financial Definition of LOOPHOLE
What It Is
A loophole is an exception that allows a system to be circumvented or avoided. It usually refers to legal, taxation, or security strategies that are exploited for personal gain.
How It Works
Loopholes are failures of a system to account for all conditions, variables, or exceptions. To illustrate a legal loophole, consider a local development law that requires even an unoccupied building to pay real estate taxes so long as it receives a certificate of completion. In order to avoid paying taxes, a builder may exploit this loophole and choose not to "complete" the building.
An example of a tax loophole is the tax break for small businesses who invest in "heavy vehicles". The tax break applies if the vehicle is used at least 50% of the time for the business. Business owners may exploit this loophole by upgrading their own vehicles to SUVs, which are considered "heavy" under the tax law, and thereby gain a personal financial advantage.
In most instances, loopholes that lead to excessive abuse are corrected by subsequent regulations and laws.
Why It Matters
While loopholes may save money or allow a purchase that would otherwise not be economical, the use of loopholes is considered questionable. Exploiting loopholes may lead to intensive scrutiny and audits, or even just a feeling of bad faith. For example, a tax payer should be aware when a tax consultant advises of specific tax advantage of whether the advantage is claimed on the basis of an allowable deduction or a loophole.
LOOPHOLE Defined for English Language Learners
LOOPHOLE Defined for Kids
Seen and Heard
What made you want to look up loophole? Please tell us where you read or heard it (including the quote, if possible).