Tag: taxes
Wealth Tax
DefinitionA wealth tax is a levy on the total value of personal assets, including: bank deposits, real estate, assets in insurance and pension plans,...
Gas Guzzler Tax
What is the gas guzzler tax and how does it work
The gas guzzler tax is a fee levied on vehicles that have poor fuel...
General Public Distribution
What is 'General Public Distribution' A type of primary market offering in which the securities being issued are available to anyone who...
Generation-Skipping Trust
What is a 'Generation-Skipping Trust' A generation-skipping trust is a type of legally binding trust agreement in which the contributed assets are...
Generation-Skipping Transfer Tax (GSTT)
What is 'Generation-Skipping Transfer Tax - GSTT' A tax incurred when there is a transfer of property by gift or inheritance to...
Tax Arbitrage
What is 'Tax Arbitrage' The practice of profiting from differences between the way transactions are treated for tax purposes. The complexity of...
Tax Evasion
DefinitionTax evasion is the illegal evasion of taxes by individuals, corporations, and trusts. Tax evasion often entails taxpayers deliberately misrepresenting the true state of...
Tangible Personal Property
What is 'Tangible Personal Property' Tangible personal property is a tax term describing personal property that can be physically relocated, such as...
Tax Court
What is 'Tax Court' A specialized court of law that hears and adjudicates tax-related disputes and issues. The tax court in the...
Tax Bracket
DefinitionTax brackets are the divisions at which tax rates change in a progressive tax system. Essentially, they are the cutoff values for taxable income...