Tag: MU
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Mutual Fund
Mutual Fund means:a type of regulated investment company that raises money from shareholders and invests it in stocks, bonds, options, commodities, or money market securities. Mutual fund is a regulated investment company generally created by pooling funds of investors to allow them to […]
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Multiple Support Agreement
Multiple Support Agreement means:an agreement made by two or more taxpayers regarding the dependency exemption. When two or more taxpayers provide more than half of a person's support, but no one person provides more than half the support, an agreement can be made allowing one of the […]
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Municipal Bond
Municipal Bond means:a bond issued by a state or local government body such as a county, city, town, or municipal authority. Interest earned on a municipal bond is generally not taxable by the U.S. government or in the jurisdiction that issued that bond. Any gain realized from the sale […]
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Multistate Corporation
Multistate Corporation means:a business entity (like a corporation or company) operating in more than one state in the United States. Controversy arises as to the proper assignment of the entity's income to the various states. See also other Tax Terms and Definitions in U.S.A. Multistate Tax Co…
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Multistate Tax Commission
Multistate Tax Commission means:a group, appointed by the member states, that writes rules and regulations interpreting the Uniform Division of Income for Tax Purposes Act….
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Multiple Broker Rule
Multiple Broker Rule means:a rule that requires the broker who deals directly with the holder to report a brokerage transaction to the U.S. Internal Revenue Service. Former Temporary Regulation (check here if this Temp. Reg. is current) 5f…
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Multiple Retirement Ages
Multiple Retirement Ages means:an arrangement under Social Security whereby an employee can retire at specific ages and receive benefits without reduction, or receive reduced benefits subject to a penalty. These ages can be classified as follows: 1. Normal Retirement. The earliest time at which …
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Multitiered Partnerships
Multitiered Partnerships means:an ownership form in which one partnership (the parent) is a partner in one or more partnerships (the subsidiaries). For example, the first- tier partnership may be a holding partnership, and the second-tier partnerships might be operating partnerships. The charact…
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Multiple Trusts
The Multiple Trusts are. two or more trusts, treated as one if they have substantially the same grantor(s) and substantially the same beneficiary or beneficiaries, and if one of the principal purposes for the existence of multiple trusts is the avoidance of federal income tax. A husband and wife are…