Tag: CU

  • Current Assets

    Current Assets means:the cash, accounts receivable, inventory, and other assets that are likely to be converted into cash, sold, exchanged, or expensed in the normal course of business, usually within a year. Description and Definition of Current Assets Current assets are assets of a […]

  • Current Liabilities

    Current Liabilities means:the debts incurred by the reporting entity as part of normal operations and expected to be repaid during the following 12 months. Examples are accounts payable, short-term loans, and the portion of long-term loans that is due in 1 year. Description and […]

  • Customs

    Description and Definition of Customs or Import Duty A tariff or tax charged when a product is imported into a country. Some countries have customs duties but no income tax. Resources See Also Further Reading Customs or Import Duty in the West's Tax Law Dictionary Customs or Import Duty […]

  • Cumulative Bulletin

    Cumulative Bulletin means:a hardbound compilation of the material in the Internal Revenue Bulletin, usually issued semiannually….

  • Curtesy

    Curtesy means:a husband's right in common law, upon the death of his wife, to a life estate in all lands that his wife owned in fee simple or in fee tail at any time during the marriage, provided that issue capable of inheriting the estate was born of the marriage. See also dower. Former IRC…

  • Current Earnings and Profits

    Current Earnings and Profits means:a figure arrived at by adding nontaxable or tax- exempt income to taxable income for the tax year. Current earnings and profits, if not paid out, become accumulated earnings and profits. A distribution comes first from current earnings and profits and then from…

  • Custodian

    Custodian means:a person in actual or constructive possession of the property of another, such as a minor or a decedent….

  • Custodial Parent

    Custodial Parent means:the parent named as custodian of a child in the most recent divorce or separate maintenance decree, written separation agreement, or court-approved custody order. Where legal custody has not been addressed by the court, or if joint custody has been ordered, the custodial p…