Tag: BO
-
Boot Purge Rule
Boot Purge Rule means:a determination that the Section 1374 penalty tax on built-in gains applies only to recognized built-in gains because Section 361 (nonrecognition of gain to a corporation on the distribution of property received in a corporate reorganization) prevents taxability at the corp…
-
Board of Equalization
Board of Equalization means:a government entity whose purpose is to assure uniform property tax assessments. A board of equalization (BOE) at the local level may review tax assessments to be certain that the assessment for each parcel is fair. At the state level, the board will assure that each …
-
Book Untaxed Reported Profits
Book Untaxed Reported Profits means:an adjustment to corporate alternative minimum taxable income (AMTI) for years beginning before 1990. The adjustment was one-half the amount by which the taxpayer's adjusted net book income exceeded AMTI. Adjusted net book income is financial statement income …
-
Bootstrap Acquisition
Bootstrap Acquisition means:any of several forms of buyout in which a buyer finances an acquisition in part with the target corporation's excess cash or liquid assets. For example, there may be a sale and seller redemption whereby some of the seller's shares are sold to the purchaser and the rem…
-
Boycott-related Income
Boycott-related Income means:income that occurs when a person agrees to refrain from certain actions as a condition of doing business directly or indirectly within a country, or with a government, a company, or a national of a country. Sanctions imposed for such income are loss of the foreign ta…
-
Book Income
Book Income means:the amount of profit reflected on a company's records. Book income may differ significantly from taxable income because of income or expenses that are included in one but not the other, or differences caused by accounting method (cash or accrual basis)….
-
Book Inventory
Book Inventory means:stock in hand according to recorded figures. See also other Tax Terms and Definitions in U.S.A. physical inventory….
-
Book Depreciation
Book Depreciation means:same as depreciation. See Depreciation in the United States Encyclopedia of Law and Depreciation in the World Encyclopedia of Law….
-
Board of Tax Appeals
Board of Tax Appeals means:the forerunner of the U.S. Tax Court. The BTA was a trial court that considered federal tax matters….
-
Bond Discount
Bond Discount means:the difference between a bond's current market price and its higher face value or maturity value. A bond may be issued at a discount, or a discount may result from a general interest rate increase or an increased risk of default. A buyer who acquires a taxable bond at an orig…