Adjusted Basis - Law Dictionary Search Results
Home Dictionary Name: adjusted basisadjusted basis
adjusted basis see basis ...
basis
basis pl: ba·ses [-sēz] 1 : something (as a principle or reason) on which something else is established [the court could not imagine any conceivable for the statute] see also rational basis 2 : a basic principle or method ;esp : the principle or method by which taxable income is calculated NOTE: The Internal Revenue Code has set some limits on which method a taxpayer may use for figuring taxable income. For example, a corporation with gross receipts under $5,000,000 may be a cash-basis taxpayer. ac·cru·al basis : a method of accounting in which income and expenses are recorded in the period when they are earned or incurred regardless of when the payment is received or made called also accrual method cash basis : a method of accounting in which income and expenses are recorded in the period when payment is received or made called also cash method 3 : the value (as cost or fair market value) of an asset used in calculating capital gains or losses for inc...
adjust
adjust 1 a : to determine the amount to be paid under an insurance policy in settlement of (a loss) b : to make new arrangements with creditors for the payment of (the debts of a debtor in bankruptcy) 2 : to calculate in accordance with a system [ing the basis] ...
On a regular basis
On a regular basis, when a person is appointed to a post against a permanent vacancy on probation, his appointment is on a regular basis, but when a person is appointed to a post on a purely temporary or on an ad hoc basis, the appointment is not on a regular basis, K. Madhavan v. Union of India, AIR 1987 SC 2291 (1296): (1987) 4 SCC 655: (1988) 1 SCR 421. (Constitution of India, Art. 309)...
adjust status
adjust status 1) To change from a nonimmigrant visa status or other status 2) To adjust the status of a permanent resident (green card holder). Source: Department of State. March 2007. ...
adjustable-rate mortgage (arm)
adjustable-rate mortgage (arm) a mortgage loan that does not have a fixed interest rate. During the life of the loan the interest rate will change based on the index rate. Also referred to as adjustable mortgage loans (AMLs) or variable-rate mortgages (VRMs). Source: U.S. Department of Housing and Urban Development ...
adjustment index
adjustment index the published market index used to calculate the interest rate of an ARM at the time of origination or adjustment. Source: U.S. Department of Housing and Urban Development ...
modified adjusted gross income
modified adjusted gross income There are different definitions for different purposes. It is usually the adjusted gross income with various items added back in. ...
rational basis test
rational basis test : a test less intensive than strict scrutiny or an intermediate review that involves a determination of whether a statutory or regulatory classification of persons (as by age or offender status) has a rational basis and does not deny equal protection under the Constitution [if the classification neither affects a fundamental right, nor creates a suspect classification, nor is based on gender, then the rational basis test is applied "Charlton v. Kimata, 815 P.2d 946 (1991)"] called also rational relationship test ...
Adjustment of a loss
Adjustment of a loss [fr. adjuster, Tr., to make event], the settling and ascertaining the amount of the indemnity which the assured, after all allowances and deductions made, is entitled to receive under the policy, and fixing the proportion which each underwriter is liable to pay. See York-Antwerp Rules, 1890, (English) Marine Insurance Act, 1906 (6 Edw. 7, c. 41), and Lowndes on Average...
- << Prev.
- Next >>
Sign-up to get more results
Unlock complete result pages and premium legal research features.
Start Free Trial