|Limited-tax general obligation bond|
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Definition of Limited-tax general obligation bond
Limited-tax general obligation bond
A general obligation bond that is limited as to revenue sources.
A bond on which interest accrues, but is not paid to the investor during the time of accrual.
An approximate measure of the liability of a plan in the event of a
The ratio of net income to net sales.
Money after-tax rate of return minus the inflation rate.
A situation wherein participants in a transaction have different net tax rates.
taxes as a fraction of income; total taxes divided by total taxable income.
Total taxes owed divided by total income.
bonds that are not registered on the books of the issuer. Such bonds are held in physical form by
The ratio of net income before taxes to net sales.
bonds are debt and are issued for a period of more than one year. The U.S. government, local
A long-term, interest-bearing promissory note that companies may use to borrow money for periods of time such as five, ten, or twenty years.
A long-term debt instrument in which the issuer (borrower) is
Security that obligates the issuer to make specified payments
A financial asset taking the form of a promise by a borrower to repay a specified amount (the bond's face value) on a maturity date and to make fixed periodic interest payments.
Usually a fixed interest security under which the issuer contracts to pay the lender a fixed principal amount at a stated date in the future, and a series of interest payments, either semi-annually or annually. Interest payments may vary through the life of bond.
A debt security issued by a government or company. You receive regular interest payments at specified rates while you hold the bond and you receive the face value when it matures. Short-term bonds mature in less than five years; medium-term bonds mature in six to ten years; and long-term bonds mature in eleven years or greater.
Fixed interest security issued by a corporation or government, having a specific maturity date.
A contract for privately placed debt.
A contractual provision in a bond indenture. A positive covenant requires certain actions, and
The method used for computing the bond-equivalent yield.
Bond equivalent yield
bond yield calculated on an annual percentage rate method. Differs from annual
The annualized yield to maturity computed by doubling the semiannual yield.
Bond Equivalent Yield
bond yield calculated on an annual percentage rate method
The contract that sets forth the promises of a corporate bond issuer and the rights of
Designing a portfolio so that its performance will match the performance of some bond index.
A conventional unit of measure for bond prices set at $10 and equivalent to 1% of the $100 face
With respect to convertible bonds, the value the security would have if it were not convertible
A system that monitors and evaluates the performance of a fixed-income portfolio , as well as the
Amounts owed by the company that have been formalized by a legal document called a bond.
bonds issued by emerging countries under a debt reduction plan.
Break-even tax rate
The tax rate at which a party to a prospective transaction is indifferent between entering
bond whose principal repayment is linked to the price of another security. The bonds are
Foreign bond issue made in London.
A bond that allows the issuer to buy back the bond at a
bond that may be repurchased by the issuer before maturity at specified call price.
Canada Savings Bonds
A bond issued each year by the federal government. These bonds can be cashed in at any time for their full face value.
Cash flow after interest and taxes
Net income plus depreciation.
Collateral trust bonds
A bond in which the issuer (often a holding company) grants investors a lien on
Collateralized mortgage obligation (CMO)
A security backed by a pool of pass-throughs , structured so that
Insurance that a construction contract will be successfully completed.
Conflict between bondholders and stockholders
These two groups may have interests in a corporation that
bond that the holder may exchange for a specified number of shares.
bonds that can be converted into common stock at the option of the holder.
A eurobond that can be converted into another asset, often through exercise of
Debt obligations issued by corporations.
Corporate tax view
The argument that double (corporate and individual) taxation of equity returns makes
Corporate taxable equivalent
Rate of return required on a par bond to produce the same after-tax yield to
Cost of limited partner capital
The discount rate that equates the after-tax inflows with outflows for capital
Country risk General
Level of political and economic uncertainty in a country affecting the value of loans or
Any bond with a coupon. Contrast with discount bond.
Current Income Tax Expense
That portion of the total income tax provision that is based on
Current Tax Payment Act of 1943
A federal Act requiring employers to withhold income taxes from employee pay.
High-coupon bonds that sell at only at a moderate premium because they are callable at a
An unsecured bond whose holder has the claim of a general creditor on all assets of the
A bond issued with a very low coupon or no coupon and selling at a price far below par
Deferred Income Tax Expense
That portion of the total income tax provision that is the result
Deferred Tax Asset
Future tax benefit that results from (1) the origination of a temporary difference
Deferred Tax Liability
Future tax obligation that results from the origination of a temporary
A non-cash expense that provides a source of free cash flow. Amount allocated during the
Depreciation tax shield
The value of the tax write-off on depreciation of plant and equipment.
depreciation tax shield
Reduction in taxes attributable to the depreciation allowance.
Debt sold for less than its principal value. If a discount bond pays no interest, it is called a
A bond with no coupons, priced below its face value; the return on this bond comes from the difference between its face value and its current price.
Municipal revenue bonds for which quotes are given in dollar prices. Not to be confused with
Dollar price of a bond
Percentage of face value at which a bond is quoted.
Agreement between two countries that taxes paid abroad can be offset against
earnings before interest and income tax (EBIT)
A measure of profit that
Earnings before interest and taxes (EBIT)
A financial measure defined as revenues less cost of goods sold
Earnings before interest and taxes (EBIT)
The operating profit before deducting interest and tax.
Earnings before interest, taxes, depreciation and amortization (EBITDA)
The operating profit before deducting interest, tax, depreciation and amortization.
Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA)
An earningsbased measure that, for many, serves as a surrogate for cash flow. Actually consists of working
EBDDT - Earnings before depreciation and deferred taxes
This measure is used principally by
Effective Tax Rate
The total tax provision divided by pretax book income from continuing
Electronic Federal Tax Payment Systems (EFTPS)
An electronic funds transfer system used by businesses to remit taxes to the government.
Equivalent bond yield
Annual yield on a short-term, non-interest bearing security calculated so as to be
Equivalent taxable yield
The yield that must be offered on a taxable bond issue to give the same after-tax
A bond that is (1) underwritten by an international syndicate, (2) offered at issuance
A debt security issued in a market other than the home market of
bond that is marketed internationally.
Eurobonds denominated in U.S.dollars.
Eurobonds denominated in Japanese yen.
bond whose maturity can be extended at the option of the lender or issuer.
Federal Unemployment Tax Act (FUTA)
A federal Act requiring employers to pay a tax on the wages paid to their employees, which is then used to create a
Conventional bonds for which the coupon rate is set as a fixed percentage of the par value.
Government bonds that are acceptable at par in payment of federal estate taxes when owned by
A bond issued on the domestic capital market of anther company.
Foreign bond market
That portion of the domestic bond market that represents issues floated by foreign
Foreign tax credit
Home country credit against domestic income tax for foreign taxes paid on foreign
Full coupon bond
A bond with a coupon equal to the going market rate, thereby, the bond is selling at par.
Full faith-and-credit obligations
The security pledges for larger municipal bond issuers, such as states and
on Tariffs and Trade (GATT) a treaty
What was spent to run the non-sales and non-manufacturing part of a company, such as office salaries and interest paid on loans.
General cash offer
A public offering made to investors at large.
general cash offer
Sale of securities open to all investors by an already-public company.
A book that contains all the accounts of the company and the balances of those accounts.
The master set of accounts that summarizes all transactions occurring
General obligation bonds
Municipal securities secured by the issuer's pledge of its full faith, credit, and
A partner who has unlimited liability for the obligations of the partnership.
A partnership in which all partners are general partners.
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