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Tax Glossary
What Is a U.S. Shareholder?
In the context of international tax law, a U.S. shareholder is a U.S. person or entity that owns a significant...
Tax Glossary
What Is “Trustee”?
A trustee is an individual or an institution, such as a bank or trust company, legally designated to hold, manage,...
Tax Glossary
What Is “Trust income tax return”?
A trust income tax return is a specific federal tax filing used to report the annual financial activity of an...
Tax Glossary
What Is “Trust”?
A trust is a legal arrangement where one party holds and manages assets for the benefit of another party. In...
Tax Glossary
What Is Transfer Pricing?
Transfer pricing is the accounting practice of setting the prices for goods, services, loans, or intellectual property exchanged between related...
Tax Glossary
What Is a “Token Swap”?
A token swap occurs when a cryptocurrency user exchanges one type of digital token directly for another without using traditional...
Tax Glossary
What Is “Throwback tax”?
A throwback tax is a specialized tax rule applied when a trust accumulates its earnings over multiple years and then...
Tax Glossary
What Is the “Throwback Rule”?
The throwback rule is a state corporate income tax provision that reallocates a business’s out-of-state sales revenue back to its...
Tax Glossary
What Is “Tax-exempt organization”?
A tax-exempt organization is a legal entity that is excused from paying federal corporate income taxes on revenues related to...
Tax Glossary
What Is “Taxable Termination”?
A taxable termination is a specific legal event within a trust that triggers the federal Generation-Skipping Transfer (GST) tax. It...