Sentences with phrase «in a taxable year»

To qualify a facility must capture and store a minimum of 500,000 tons of qualified CO2 in a taxable year.

You are self - employed if you operate a trade, business or profession, either individually or as a partner, and have net earnings of $ 400 or more in a taxable year.

Income taxes due from depreciation recapture can not be deferred into the following income tax year and are due in the taxable year in which you sold (and closed on) your relinquished property.

If we were treated as a corporation in any taxable year, either as a result of a failure to meet the Qualifying Income Exception or otherwise, our items of income, gain, loss and deduction would be

This change will affect negotiations regarding the payment of additional purchase price for tax benefits attributable to transaction deductions that give rise to an NOL in the taxable year of the closing of a transaction.

Amounts distributed from an ESA that exceed the child's qualified education expenses in a taxable year may be subject to income tax and to an additional 10 percent penalty tax.

Deductions are subject to recapture in the taxable year or years in which distributions or refunds are made for any reason other than (i) to pay qualified disability expenses; or (ii) the beneficiary's death.

If the contribution to an ABLEnow account exceeds $ 2,000 the remainder may be carried forward and subtracted in future taxable years until the amount has been fully deducted; however, in no event shall the amount deducted in any taxable year exceed $ 2,000 per ABLEnow account.

• Income inclusion - If the contract does not meet the life insurance contract definition, then the income generated in the contract in every taxable year will be considered as ordinary income accrued or received by the policyholder.

For example, a person who in the course of a trade or business makes a payment of «fixed and determinable income» using virtual currency with a value of $ 600 or more to a U.S. non-exempt recipient in a taxable year is required to report the payment to the IRS and to the payee.

The IRS requires miners to recognize income for every coin they mined in a taxable year.

Generally, a person who in the course of a trade or business makes a payment of $ 600 or more in a taxable year to an independent contractor for the performance of services is required to report that payment to the IRS and to the payee on Form 1099 - MISC.

The bill also allows a new tax credit for 50 % of the child care educational expenses, up to a maximum of $ 1,000 in any taxable year, paid with respect to the operation of a qualified child care center.