Sentences with phrase «amount under the tax law»

«(B) such related party is allowed a deduction with respect to such amount under the tax law of such country.

Not exact matches

Under current law, taxpayers can put a specified amount in 401 (k) retirement savings plans without paying taxes upfront.

Under previous tax law, most people could deduct the amount of taxes they'd paid on property, sales or income from the adjusted income they reported on their federal tax returns.

Under previous tax law, anyone making above a certain amount — $ 313,800 for couples filing jointly in 2017 — faced a ceiling on how much they could subtract from their taxable income through itemized deductions.

These AMT exemption amounts, which were expanded under various tax laws in 2001, 2003 and 2004, expired at the end of 2005.

Under existing law, payments of those taxes can be deducted, or subtracted from federal taxable income, lowering the amount of federal tax due.

Districts must report projected levies to the comptroller each year by March 1 under the state's tax - cap law, which also restricts the amount of revenue that they can raise through property taxes.

On average, prices for beverages covered under the law increased by less than half of the tax amount.

In 2016, 25 of the 33 already shared some portion of the additional tax dollars with their charter schools, an amount estimated to be around two thirds of what charters will be entitled to under the new law.

Under the new law, the state supplement funding state charter schools receive in place of local tax dollars will increase from the five lowest funded districts in the state to a per - pupil amount equal to the state average of local revenues.

Under current law, the amount of debt discharged is treated as taxable income, so you will have to pay income taxes 25 years from now on the amount discharged that year.

There's one small snag with IBR; under current tax law, any loan amount that is forgiven will be taxed.

Under federal law, the IRS has the authority to compromise a tax debt or to collect an amount that is less than the full balance due in certain situations.

Under federal tax law, a marital deduction permits you to leave an unlimited amount of assets to your surviving spouse.

Old law: Under prior law, taxpayers could deduct state, local and foreign real estate taxes they paid during the tax year, with no cap on the amount.

Under the new tax laws taking effect in 2018, these amounts are increased to $ 70,300 for single and head of household, $ 54,700 for married filing separately, and $ 109,400 for married filing jointly.

If the annual gifting exclusion amount is not exceeded, neither lender nor borrower has filing requirements under gift tax law.

Under the new tax law, all mortgage interest on a loan under the $ 750,000 loan amount cap that is categorized as acquisition indebtedness — i.e. the funds were used to buy, build, or improve your home — remains tax deductUnder the new tax law, all mortgage interest on a loan under the $ 750,000 loan amount cap that is categorized as acquisition indebtedness — i.e. the funds were used to buy, build, or improve your home — remains tax deductunder the $ 750,000 loan amount cap that is categorized as acquisition indebtedness — i.e. the funds were used to buy, build, or improve your home — remains tax deductible.

State and local property taxes under the new law are now subject to a $ 10,000 cap on the amount you can deduct.

Since the amount of damages paid by a city or county will be paid by tax dollars, government entities get special consideration under the law (meaning their liability is capped).

Fees of up to $ 9,303,638 plus taxes will be paid to Class Counsel, dependent upon the final determination of the amount to be paid by the Law Firm Defendants under their settlement.

Under federal tax law, there is a marital deduction permitting you to leave an unlimited amount of assets to your surviving spouse.

With this approach, because the employee owns the policy, it is most common under current tax laws to structure the arrangement so the employer «loans» the amount of the premiums to the employee.

Withdrawals up to the amount of premiums paid are not subject to income taxation under income tax law.1 Also, unlike annuities, cash value withdrawn from your policy (so long as it is not a MEC) is not subject to IRS pre-59 1/2 withdrawal penalties.

Tax benefit amount: Tax benefits under the policy are subject to prevailing tax laws (Section 80C an Section 10 (10D)-RRB- of the Income Tax Act, 1Tax benefit amount: Tax benefits under the policy are subject to prevailing tax laws (Section 80C an Section 10 (10D)-RRB- of the Income Tax Act, 1Tax benefits under the policy are subject to prevailing tax laws (Section 80C an Section 10 (10D)-RRB- of the Income Tax Act, 1tax laws (Section 80C an Section 10 (10D)-RRB- of the Income Tax Act, 1Tax Act, 1961

Tax benefit amount: Tax benefits under the policy will be as per the prevailing Income Tax laws.

Tax benefit amount: Premiums paid under Reliance Lifelong Savings and rider (s) opted for, if any, are eligible for tax exemptions, subject to the applicable tax laws and conditioTax benefit amount: Premiums paid under Reliance Lifelong Savings and rider (s) opted for, if any, are eligible for tax exemptions, subject to the applicable tax laws and conditiotax exemptions, subject to the applicable tax laws and conditiotax laws and conditions.

Under existing law, a party desiring to redeem property sold to the state for unpaid taxes is required to pay the amount for which the property was sold, the amount of all taxes due on the property since the date of sale, plus interest at a rate of 12 percent.

Business Tax Items • Permanently extends the 2001/2003 tax rates for adjusted gross income levels under $ 450,000 ($ 400,000 single); good for small business and home builders, 80 % of whom are pass - thru entities who pay taxes on the individual side of the code • Permanently extends the Alternative Minimum patch; again, good for small business owners who are frequently at risk of paying AMT • Permanently sets the parameters of the estate tax; positive for family - owned construction firms; codifies the 2010 $ 5 million exemption amount (indexed to inflation) and a 40 percent estate tax rate • Extends present law section 179 small business expensing through the end of 2013; offers cash flow and administrative cost benefits for small firms • Extends the section 45L new energy - efficient home tax credit through the end of 2013; allows a $ 2,000 tax credit for the construction of for sale and for - lease energy - efficient homes in buildings with fewer than three floors above grTax Items • Permanently extends the 2001/2003 tax rates for adjusted gross income levels under $ 450,000 ($ 400,000 single); good for small business and home builders, 80 % of whom are pass - thru entities who pay taxes on the individual side of the code • Permanently extends the Alternative Minimum patch; again, good for small business owners who are frequently at risk of paying AMT • Permanently sets the parameters of the estate tax; positive for family - owned construction firms; codifies the 2010 $ 5 million exemption amount (indexed to inflation) and a 40 percent estate tax rate • Extends present law section 179 small business expensing through the end of 2013; offers cash flow and administrative cost benefits for small firms • Extends the section 45L new energy - efficient home tax credit through the end of 2013; allows a $ 2,000 tax credit for the construction of for sale and for - lease energy - efficient homes in buildings with fewer than three floors above grtax rates for adjusted gross income levels under $ 450,000 ($ 400,000 single); good for small business and home builders, 80 % of whom are pass - thru entities who pay taxes on the individual side of the code • Permanently extends the Alternative Minimum patch; again, good for small business owners who are frequently at risk of paying AMT • Permanently sets the parameters of the estate tax; positive for family - owned construction firms; codifies the 2010 $ 5 million exemption amount (indexed to inflation) and a 40 percent estate tax rate • Extends present law section 179 small business expensing through the end of 2013; offers cash flow and administrative cost benefits for small firms • Extends the section 45L new energy - efficient home tax credit through the end of 2013; allows a $ 2,000 tax credit for the construction of for sale and for - lease energy - efficient homes in buildings with fewer than three floors above grtax; positive for family - owned construction firms; codifies the 2010 $ 5 million exemption amount (indexed to inflation) and a 40 percent estate tax rate • Extends present law section 179 small business expensing through the end of 2013; offers cash flow and administrative cost benefits for small firms • Extends the section 45L new energy - efficient home tax credit through the end of 2013; allows a $ 2,000 tax credit for the construction of for sale and for - lease energy - efficient homes in buildings with fewer than three floors above grtax rate • Extends present law section 179 small business expensing through the end of 2013; offers cash flow and administrative cost benefits for small firms • Extends the section 45L new energy - efficient home tax credit through the end of 2013; allows a $ 2,000 tax credit for the construction of for sale and for - lease energy - efficient homes in buildings with fewer than three floors above grtax credit through the end of 2013; allows a $ 2,000 tax credit for the construction of for sale and for - lease energy - efficient homes in buildings with fewer than three floors above grtax credit for the construction of for sale and for - lease energy - efficient homes in buildings with fewer than three floors above grade

The name that is used under State or local law to refer to these amounts is not determinative of whether they are disclosed as transfer taxes or as recording fees and other taxes under § 1026.37 (g)(1).

Research federal laws regulating partnership transfers and gifts given to family members to determine the amount allowed under federal law before the gift recipient incurs liability for income or gift taxes.