12 month period used to calculate a tax payer’s liability.

Appropriating taxes when they incurred and not when they need to be paid.

Calculated tax amount on an investment matching tax incurred on the investment.

Government debt security where the purchaser is exempt from tax on derived income.

1. Income not subject to local, state or federal tax. 2. Investments. Income from qualified ROTH IRA distributions, academic scholarships, municipal bonds, some death benefits and interest that is tax […]

A non-profit organization or company that does not need to pay tax when it buys or sells items.

Property that does not pay real estate taxes.

Industry of investments not subject to federal taxes as a municipal bond is.

Investment where the investor does not pay tax on any earned profit. See double exemption.

See tax exempt.

The flow of production in business is not affected by collection of revenue.

Policy controlling inflation and increasing wages by tax incentives and penalties.

Taxes are a ratable portion of the produce of the property and labor of the individual citizens, taken by the nation, in the exercise of its sovereign rights , for […]

To impose a tax ; to enact or declare that a pecuniary contribution shall be made by the persons liable, for the support of government. Spoken of an individual , […]

L. Lat. A tax. Spelman. I* old records. An allotted piece of work; a task.

Lat. To rate or value. Calvin.

Subject to taxation; liable to be assessed, along with others, for a share in a tax. Persons subject to taxation are sometimes called “taxables;” so property which may be assessed […]

Non-monetary compensation received by a employee such as health insurance .

The yield on tax free securities. It is compared with taxable investment opportunities. Refer to yield to maturity , yield to call , simple yield , bond equivalent yield , […]

Calculated as the adjusted gross estate less any deductions for charity and marital state.

Gross income that standard deductions and allowances are taken from.

Value of property used in determining amount of tax the owner will pay.

12 month period used to calculate a tax payer’s liability. Also known as tax year.

In old European law. Soldiers of a garrison or lieet, assigned to a certain station. Spelman.

Lat. In Itoman law. Taxation or assessment of damages ; the assessment, by the judge, of the amount of damages to be awarded to a plaintiff, aud particularly in the […]