Tag: GR

Greenmail Gain means:the amount paid by a corporation in a direct or indirect redemption of its stock from a stockholder who has held this stock for less than 2 years if, during such period, the shareholder made or threatened to make a public tender offer for stock of the target corporation. On …

Grantee means:the party to whom the title to real property is conveyed; the buyer, donee, receiver. Example 1: Edith Graham is the grantee under a deed from her father, Albert Graham. Example 2: A trust was established whereby two children will receive the income from the trust and, when they re…

Gross Estate means:the total value of a person's assets before liabilities such as debts and taxes are deducted. After someone dies, the executor of the will makes an assessment of the stocks, bonds, real estate, and personal possessions that comprise the gross estate. Former IRC (check <a href=…

Gross Amount means:the total amount of something without accounting for costs, taxes, or loss. For example, gross revenues do not account for taxes, depreciation, and other costs. See Depreciation in the United States Encyclopedia of Law and <a href="ht…

Grossed-up Gift means:the result of adding the gift tax paid by the decedent of an estate on to the gift when the gift is included in the gross estate….

Ground Rent means:the rent earned by leased land. Ground rent received is taxable as ordinary income when received. If the lease is considered a financing device, portions of the rent may be treated as interest, gain, and nontaxable recovery of investment. Ground rent paid is deductible for a bu…

Groman Doctrine means:the principle that, if a second corporation is inserted between a transferor and the transferred property, continuity of interest does not exist to the extent that the transferor received stock of the transferee in exchange for the property. This restrictive view of continu…

Gross Profit Ratio means, in an installment sale, the relationship between the gross profit (gain) and the contract price. The resulting fraction is applied to periodic receipts from the buyer to determine the taxable gain from each receipt. Example of Gross Profit Ratio: <a href="http://lawi.us/ta…