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
Instead, the motivating force behind the budget measures is the Republicans' party-defining drive to cut corporate and individual tax rates and rid the tax code of loopholes.
But Pruitt, as Buzzfeed reports, has found a loophole through which to escape criticism for so obvious a ploy.
One of the major loopholes has to do with dust pumps, the devices used to measure the levels of dust in any given mine.
There are scads of loopholes and rates that could be tinkered with to achieve deficit-neutral reform.
The trial comes on the heels of Senate Republicans blocking the Paycheck Fairness Act, a piece of legislation that would close major loopholes in the Equal Pay Act that was passed more than 50 years ago.
Prior to Robart’s order, airlines and administration officials had either ignored previous rulings or evaded them by way of dubious loopholes.
Despite assertions by automakers that diesel is clean, studies by the German, French and British governments have found that virtually all manufacturers took advantage of loopholes in European Union regulations.
THE White House has long promised to fund tax cuts by scrapping unspecified loopholes and deductions.
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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