Tag: SA
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Sales Tax
Sales Tax means:a percentage tax imposed on the retail sale of certain items. A tax on retail products based on a set percentage of retail cost.Most sales taxes, which are based on the value of the item sold, are regressive taxes. They are a major source of revenue for most states and […]
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Salvage Value
Salvage Value means:the estimated value of a property when the owner completes his or her use of it. In determining the amount of depreciation allowable for accounting purposes, salvage value must be subtracted from basis. Value of tangible depreciable property when it is retired from […]
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Saving Clause
Saving Clause means:a clause in articles 1(3) and 1(4) of the U.S. Model Tax Treaty, which reserves for the United States the right to tax its citizens and residents (with certain exceptions) without regard to the Convention. In other words, a treaty should not limit U.S. taxation of its own cit…
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Sales Factor
Sales Factor means:a factor in the apportionment formula; a fraction whose numerator is an entity's total sales in a particular state during a tax period, and whose denominator is the entity's total sales everywhere during this tax period. Only Iowa, Nebraska, and Texas require use of the single…
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Sale and Leaseback
Sale and Leaseback means:a form of lease arrangement whereby a company sells an asset to another party-usually an insurance or finance company, a leasing company a limited partnership, or an institutional investor-in exchange for cash, then contracts as a tenant to lease the asset for a specifie…
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Salary Reduction Plan
Salary Reduction Plan means:a plan that allows an employee the opportunity to have a certain percentage of his or her gross salary withheld, not taxed, and invested in the employee's choice of a stock, bond, or money market fund. See also other Tax Terms and Definitions in U.S.A. Section <a hre…
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Sale
Sale means:any exchange of goods or services for money. The sale price is reduced by transaction costs and the adjusted tax basis of the property to arrive at the taxable gain or loss….
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Sale Or Exchange
Sale Or Exchange means:the disposition of property in a value-for-value exchange, as opposed to a disposition by gift, contribution, or the like. Any disposition that is a sale or exchange for federal tax purposes within the meaning of Code section 1222, 1231 or other relevant Code provision, or…
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Salary
Salary means:the regular compensation received by an employee as a condition of employment. Compensation received by an employee for services performed. Salary and wages are reported annually by the employer to the U.S. Internal Revenue Service and the employee on Former Federal Tax Form (check …
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Safe Harbor Rule
The Safe Harbor Rule are. guidelines provided by the U.S. Internal Revenue Service that indicate specific parameters a taxpayer can follow to ensure favorable tax treatment or to avoid unfavorable treatment. (Safe Harbour: Where tax authorities give general guidelines on the interpretation of tax la…