Posts by admin

project financing. See FINANCING.   [Blacks Law 8th]

pro interesse suo (proh in-t<<schwa>>r-es-ee s[y]oo-oh). [Latin] According to his interest; to the extent of his interest. • A third party, for example, may be allowed to intervene pro interesse suo.   [Blacks Law 8th]

pro indiviso (proh in-d<<schwa>>-vI-zoh), adj.[Latin “as undivided”] (Of property) owned or possessed by several persons at the same time, without partition.   [Blacks Law 8th]

tax-deferred account.See ACCOUNT [Blacks Law 8th]

tax-deferred,adj. Not taxable until a future date or event .[Cases: Internal Revenue 3575–3615. C.J.S. Internal Revenue §§ 160, 206–208, 291, 294–295,299–327.] [Blacks Law 8th]

tax deed.See DEED. [Blacks Law 8th]

tax deduction.See DEDUCTION(2). [Blacks Law 8th]

See unified estate-and-gift tax credit. unified estate-and-gift tax credit.A tax credit applied against the federal unified transfer tax. IRC (26 USCA) § 2001(c)(2). — Often shortened to unified credit. — Also termed applicable exclusion credit. [Cases: Internal Revenue 4182.30. C.J.S. Internal Revenue § 541.] [Blacks Law 8th]

A tax credit intended to stimulate business investment in capital goods by allowing a percentage of the purchase price as a credit against the taxpayer’s income taxes.The Tax Reform Act of 1986 generally repealed this credit retroactively for most property placed in service after January 1, 1986. — Abbr. ITC. [Cases: Internal Revenue 3523; Taxation…

.A tax credit against U.S. income taxes for a taxpayer who earns income overseas and has paid foreign taxes on that income. See FOREIGN-EARNED-INCOME EXCLUSIONN. [Cases: Internal Revenue 4098. C.J.S. Internal Revenue § 481.] “Since direct foreign investments and business operations of United States persons often attract foreign income taxes along with the baseline U.S.…