If I currently have a 401k loan for $9000 but am terminating employment and rolling over to a new company, what are my approximate tax implications? My current 401k balance $136k, salary is 70k (married, single income household). 10% penalty for early withdrawal to payoff balance.

If it is a rollover (and you meet the requirements), then there is no penalty or tax implication.

You can move it to another qualified tax plan without any penality or tax what so ever. Just make sure they do the check to the new plan to make it easier.

Now for the loan part, (almost missed that) the 9000 could be considered withdrawn, if you close or roll over the plan before it is paid back.
So you would owe 10 percent of the balance of the loan as a penalty and then around 25 percent ( maybe slightly more) in taxes.

I would talk to the administrator of the plan and see if you can continue the plan and pay off the loan before you roll it over.

So, does this mean that the total withdrawal from my 401k balance would be loan balance plus penalty and taxes if the company does not allow me to leave the 401k active and payoff the loan? Approx $12k?

The rest of the 401 can be rolled over into another qualified plan, But I do not believe you can move the loan to another plan as a loan.
** Now I am out of date on 401 laws and personally while I am licensed to do them, my license on them was years ago and I have not stayed current. But there are many possible qualified plans. So as long as you do not take and keep any money from the plan, just merely roll it all over, the money actually in the plan, just moves over tax and penalty free as long as you do a roll over, ( that means you don't take it out in a check, you get it moved from one plan right to the other plan direct..

The loan is the only issue I see. Since a loan is consdered a withdraw if you close the plan or if you do not pay it back.
Now here is one maybe. Since you would have to pay the taxes and the 10 percent penalty, could you actually borrow the money ( even at 6 or 8 percent interest would still be less than just the penalty) and pay it back prior to rolling it over.

Now this is just my thinking, I would discuss this with your own personal advisor before doing anything.

I STRONGLY suggest that you pay off the loan before you leave your current job. If you do not, then you will indeed owe both ordinary income tax and 10% early withdrawal penalty on the $9K. If you don't have the cash handy, I would suggest taking a home equity loan to pay the 401(k) back.

As for rolling the plan over - you may have the option to roll the old plan into the 401(k) at your new company - check with the plan administrator at the new company to see. Alternatively, you can roll the amount into a roll-over IRA.

What if I am leaving my company and I have a loan balance? Will my company withdraw the loan amount from my last paycheck? I am not transferring to another 401k.

The company will not withdraw the outstanding amount from your last paycheck. What will happen is once you leave the company the loan goes into default (since you will no longer be paying it off using deductions from your paycheck) and if you do not pay it off within 60 days of your departure the 401(k) administrator will reclassify the outstanding amount from a loan to a withdrawal. This amount then becomes taxable as ordinary income plus the 10% early withdrawal penalty (if you are under age 59-1/2). In January you will receive a 1099-R documenting the amount of the withdrawal to include on your 2012 tax return.

After the default of the loan and 1099-R is generated, can the balance of 401 be rolled over into new employers 401k plan?

Yes, assuming that your new employer's plan allows rollovers into it from other "qualified" plans. Not all do. Another alternative is to roll the balance into an IRA.