tax liability

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  • noun

Words related to tax liability

the amount of tax owed

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A greater percentage of large FCDCs reported no tax liability in a given year from 1998 through 2005.
6330(b)(3) requires an impartial hearing officer who has had no prior involvement with the underlying tax liability.
One court allowed a reduction in the fair market value of stock in a closely held corporation because a buyer would consider the corporation's built-in tax liability of its appreciated assets before making an offer.
In Situation 1, neither state law nor the Trust's governing instrument contains any provision requiring or permitting the trustee to distribute to G amounts sufficient to satisfy G's income tax liability attributable to including Trust's income in G's taxable income.
If the taxpayer was to recognize this gain, their total tax liability, including federal, state and local taxes, would be $261,000.
I would like to give them to my daughter but do not want to incur a capital gains tax liability.
If it doesn't go away or is forgiven, the tax liability just increases.
A good financial advisor can add value by helping you arrange your portfolio and implement strategies to lower your tax liability.
A direct reduction of tax liability increases a corporation's earnings per share and positively affects stock value.
expects to receive a statutory notice of proposed assessment with respect to its 1980 through 1985 federal income tax returns for proposed additional tax liability of up to US$450 million, together with interest at the applicable statutory rates.
When consumers go online for untaxed products, they inherit a tax liability by purchasing and shipping the merchandise into California.
First, the court held that the government's interests are not always prejudiced when taxpayers file a late election that allows them to limit their tax liability to the amount they would have paid had they been knowledgeable about the tax law.
If the result is more than their regular tax liability (before certain credits), they must pay this amount in addition to their regular tax liability.
These companies have professional staffs dedicated to ensuring compliance with the tax law while minimizing their tax liability.