|
Today's Terms
Estate and Gift Tax
Definition:
One of the oldest and most common forms of taxation is the taxation of property held by an individual at the time of their death. Such a tax can take the form, among others, of estate tax (a tax levied on the estate before any transfers). An estate tax is a charge upon the decedent's entire estate, regardless of how it is disbursed.
Subchapter S
Definition:
The S-Corporation must complete and file IRS Form 1120s to report its annual income to the IRS each year.
Acquisition
Definition:
The purchase of one corporation by another, through either the purchase of its shares, or the purchase of its assets.
More Taxation Terms >
|
Did You Know?