Tax

Tag: GE

  • Generation-Skipping Transfer

    Generation-skipping Transfer means:a transfer of financial assets or property to a recipient more than a single generation removed from the transferor, as from a grandfather to a grandchild. The transfer may be subject to the generation-skipping tax. Former IRC (check <a href="http://lawi.us/int…

  • Generational Tax

    Generational Tax means:a tax on transfers of wealth from one generation to the next. See generation-skipping tax….

  • General Tax Lien

    General Tax Lien means:a tax lien attached to all property belonging to a person liable for a tax; this lien continues for 6 years. Former IRC (check if this IRC provision is current here) §6321….

  • Generation-skipping Tax

    Generation-skipping Tax means:an estate tax on generation-skipping trusts, which is triggered when there is termination of the benefits to the in-between generation or when there is a distribution of trust corpus to the ultimate beneficiary of the trust. The rate of this tax is equal to the maxi…

  • General Retirement System

    General Retirement System means:any pension, annuity, retirement, or similar fund or system established by a state or by a political subdivision thereof for employees of the state, political subdivision, or both. A general retirement system does not include a fund or system that covers only serv…

  • General Power of Attorney

    General Power of Attorney means:the means whereby a person (the principal) nominates another person to act on his or her behalf. This power includes the right to act for the principal in tax matters, including signing tax returns. See also other Tax Terms and Definitions in U.S.A. power of atto…

  • General Expense

    The General Expense are. expense incurred for operations other than selling, administrative, or cost of goods sold….