Sentences with phrase «lieu of a tax liability»

Arts Council England announced on Wednesday that it had been accepted into public ownership in lieu of a tax liability.

Not exact matches

Ordinarily, cash payments made in lieu of unvested stock awards would trigger an immediate income - tax liability for the recipient.

Now, this was a critically important piece of legislation that shielded homeowners from any tax liability arising from forgiven debt following a short sale, deed in lieu or foreclosure.