|State Disability Tax|
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Definition of State Disability Tax
State Disability Tax
A tax charged by selected states to maintain a disability insurance
This doctrine says that a nation is sovereign within its own borders and its domestic
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.
The ratio of net income before taxes to net sales.
The tax rate at which a party to a prospective transaction is indifferent between entering
Net income plus depreciation.
An annual statement filed by a life insurance company in each state where it does
The argument that double (corporate and individual) taxation of equity returns makes
Rate of return required on a par bond to produce the same after-tax yield to
A non-cash expense that provides a source of free cash flow. Amount allocated during the
The value of the tax write-off on depreciation of plant and equipment.
Agreement between two countries that taxes paid abroad can be offset against
A financial measure defined as revenues less cost of goods sold
Equivalent taxable yield
The yield that must be offered on a taxable bond issue to give the same after-tax
Foreign tax credit
Home country credit against domestic income tax for foreign taxes paid on foreign
Imputation tax system
Arrangement by which investors who receive a dividend also receive a tax credit for
Income statement (statement of operations)
A statement showing the revenues, expenses, and income (the
Interest equalization tax
tax on foreign investment by residents of the U.S. which was abolished in 1974.
Interest tax shield
The reduction in income taxes that results from the tax-deductibility of interest payments.
Investment tax credit
Proportion of new capital investment that can be used to reduce a company's tax bill
Limited-tax general obligation bond
A general obligation bond that is limited as to revenue sources.
Marginal tax rate
The tax rate that would have to be paid on any additional dollars of taxable income earned.
Notes to the financial statements
A detailed set of notes immediately following the financial statements in
A statement published by an issuer of a new municipal security describing itself and the issue
Personal tax view (of capital structure)
The argument that the difference in personal tax rates between
Pro forma financial statements
Financial statements as adjusted to reflect a projected or planned transaction.
Pro forma statement
A financial statement showing the forecast or projected operating results and balance
Progressive tax system
A tax system wherein the average tax rate increases for some increases in income but
A legal document that is filed with the SEC to register securities for public offering.
REIT (real estate investment trust)
Real estate investment trust, which is similar to a closed-end mutual
REMIC (real estate mortgage investment conduit)
A pass-through tax entity that can hold mortgages
Short-term tax exempts
Short-term securities issued by states, municipalities, local housing agencies, and
Split-rate tax system
A tax system that taxes retained earnings at a higher rate than earnings that are
Stated annual interest rate
The interest rate expressed as a per annum percentage, by which interest
Stated conversion price
At the time of issuance of a convertible security, the price the issuer effectively
For the CMO tranche, the date the last payment would occur at zero CPR.
Billing method in which the sales for a period such as a month (for which a customer also
Statement of cash flows
A financial statement showing a firm's cash receipts and cash payments during a
A method of cash budgeting that is organized along the lines of the statement of cash flows.
Statement of Financial Accounting Standards No. 8
This is a currency translation standard previously in
Statement of Financial Accounting Standards No. 52
This is the currency translation standard currently
As the MBS pool ages, or four to six months after it was passed at least once through the
TANs (tax anticipation notes)
tax anticipation notes issued by states or municipalities to finance current
Tax anticipation bills (TABs)
Special bills that the Treasury occasionally issues that mature on corporate
Set of books kept by a firm's management for the IRS that follows IRS rules. The stockholder's
Tax clawback agreement
An agreement to contribute as equity to a project the value of all previously
Tax differential view ( of dividend policy)
The view that shareholders prefer capital gains over dividends,
The municipal bond market where state and local governments raise funds. Bonds issued
Tax free acquisition
A merger or consolidation in which 1) the acquirer's tax basis in each asset whose
A nation with a moderate level of taxation and/or liberal tax incentives for undertaking specific
Tax Reform Act of 1986
A 1986 law involving a major overhaul of the U.S. tax code.
The reduction in income taxes that results from taking an allowable deduction from taxable income.
Swapping two similar bonds to receive a tax benefit.
Tax deferral option
The feature of the U.S. Internal Revenue Code that the capital gains tax on an asset is
Tax-deferred retirement plans
Employer-sponsored and other plans that allow contributions and earnings to
The option to sell an asset and claim a loss for tax purposes or not to sell the asset and
A merger or consolidation that is not a tax-fee acquisition. The selling shareholders are
Gross income less a set of deductions.
Any transaction that is not tax-free to the parties involved, such as a taxable acquisition.
Two-state option pricing model
An option pricing model in which the underlying asset can take on only two
Two-tier tax system
A method of taxation in which the income going to shareholders is taxed twice.
Method of indirect taxation whereby a tax is levied at each stage of production on the value
A tax levied by a country of source on income paid, usually on dividends remitted to the
A statement that shows where a company’s cash came from and where it went for a period of time, such as a year.
An accounting statement that summarizes information about a company in the following format:
What the business paid to the IRS.
Cash Flow statement
A financial report that shows the movement in cash for a business during an accounting period.
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.
Financial reports or statements
The Profit and Loss account, Balance Sheet and Cash Flow statement of a business.
Profit before interest and taxes (PBIT)
One of the basic financial statements; it lists the revenue and expense accounts of the company.
Payroll tax expense
The amount of tax associated with salaries that an employer pays to governments (federal, state, and local).
Payroll taxes payable
The amount of payroll taxes owed to the various governments at the end of a period.
Stated value stock
Stock issued by the company that does not have a par value, but does have a stated value. For accounting purposes, stated value is functionally equivalent to par value.
Statement of Cash Flows
One of the basic financial statements; it lists the cash inflows and cash outflows of the company, grouped into the categories of operating activities, financing activities, and investing activities. The statement of Cash Flows is prepared for a specified period of time.
Statement Retained Earnings
One of the basic financial statements; it takes the beginning balance of retained earnings and adds net income, then subtracts dividends. The statement of Retained Earnings is prepared for a specified period of time.
statement of cash flows
One of the three primary financial statements
earnings before interest and income tax (EBIT)
A measure of profit that
statement of financial condition
See balance sheet.
financial reports and statements
Financial means having to do with
Financial statement that summarizes sales revenue
profit and loss statement (P&L statement)
This is an alternative moniker
stockholders' equity, statement of changes in
Although often considered
a written expression of organizational purpose that describes how the organization uniquely meets its targeted customers’ needs with its products or services
Statement on Management Accounting (SMA)
a pronouncement developed and issued by the Management
the point at which the learning curve becomes flat and only minimal improvements in performance are achieved
tax benefit (of depreciation)
the amount of depreciation deductible for tax purposes multiplied by the tax rate;
postponing taxation of an amount until a future date
a tax treatment where income is never subject to income taxation
current compensation that is taxed at a future date
current compensation that is never taxed
tax shield (of depreciation)
the amount of depreciation deductible
n organization’s statement that reflects its
a written expression about the organization’s
A financial report that summarizes a company’s revenue, cost of
A government tax on the income earned by an individual or corporation.
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