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
Jacobs also had worries about creating loopholes along borders with cities with no distance requirements at all, including Orlando, which could spur owners to annex their stores to the city.
Lawmakers ought to pass legislation to close that loophole and set up rules for every sheriff and court to follow.
Koleda said removing restrictions on lot size, thereby easing restrictions on the building of new units, will close the loophole by reducing the number of conversions.
However the regulation does not specify what kind of animals are acceptable, leaving the woman to find a loophole.
World can legally understate the true cost of credit because of loopholes in federal law that allow lenders to package nearly useless insurance products with their loans and omit their cost when calculating the annual rate.
But Zerbo explains that might actually hurt Gucci’s case against an embroiderer thanks, to a loophole that protects places that process third-party content.
There are loopholes to the bad Chi/dead flowers dilemma.
But because of loopholes in the law, the TIF money largely goes to gentrifying communities.
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
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