Alternative Minimum Tax - Law Dictionary Search Results
Home Dictionary Name: alternative minimum taxalternative minimum tax
alternative minimum tax : a federal tax that prevents a person or entity (as a corporation) with taxable income from avoiding tax liability and that imposes tax liability in the amount of the excess of the tentative minimum tax over regular tax liability see also tax preference item ...
tentative minimum tax
tentative minimum tax : a tax that to the extent it exceeds regular tax liability is the alternative minimum tax liability and that is determined by adjusting taxable income by adding tax preference items under Internal Revenue Code section 57 and subtracting an exemption amount under section 55 ...
tax preference item
tax preference item : an item (as an amount of depreciation) favorable to a taxpayer in the ordinary computation of tax liability that is taxed in the computation of alternative minimum tax ...
Or
Or, construed as 'and'. The courts may construe 'or' as 'and' if they find from the context that the wrong word must have been used, Morgan v. Thomas, (1882) 9 QBD 643 (645), per Jessel (MR).Or, in the sentence any 'any person concerned in any such offence shall be liable to a penalty not exceeding three times the value of the goods or not exceeding 1000 rupees.' It is clear that if the words form an affirmative sentence, then the condition of one of the clauses only need be fulfilled. In such a case 'or' really means 'either' 'or'. In the Shorter Oxford Dictionary one of the meanings of the word 'or' is given as 'A participle co-ordinating two (or more) words, phrases or clauses between which there is an alternative.' It is also there stated, 'The alternative expressed by 'or' is emphasised by prefixing to the first member or adding after the last, the associated adv. EITHER.' So, even without 'either', 'or' alone creates an alternative. If, however, the sentence is a negative one, th...
Minimum wage
Minimum wage. The Trade Boards Act, 1909, established for the first time a minimum wage in certain trades. The (English) Coal Mines (Minimum Wage) Act, 1912, made provision for the settlement of minimum rates of wages for workmen employed underground in coal mines. The principle has been extended to many industries during the war and after, and to agriculture by the Corn Production Act,1917 (repealed). See TRADE BOARDS.In relation to any area, means to minimum wage fixed by the State Government under s. 3 of the Minimum Wages Act, 1948 (11 of 1948) for agricultural labourer as applicable in that area [National Rural Employment Guarantee Act, 2005 (42 of 2005), s. 2(h)]...
alternative
alternative 1 : alternate 2 : offering or expressing a choice [an contract] see also alternative pleading at pleading 3 : existing or functioning outside the established system ;also : different from the usual or conventional [ sentencing] n 1 : a proposition or situation offering a choice between two or more things only one of which may be chosen 2 a : one of two or more things, courses, or propositions to be chosen b : something which can be chosen instead in the alternative 1 : for or as an alternative [asked for specific performance, or in the alternative, damages of $20,000] [a new trial may be asked for in the alternative] 2 : in such a way that offers a choice [relief in the alternative…may be demanded "Federal Rules of Civil Procedure Rule 8(a)"] [plead in the alternative] ...
minimum contacts
minimum contacts : the level of a nonresident defendant's connection with or activity in a state that is sufficient under due process to support the assertion of personal jurisdiction under a long-arm statute see also doing business statute, fair play and substantial justice International Shoe Co. v. Washington in the Important Cases section NOTE: In most cases, minimum contacts are shown by continuous and purposeful contact with the state usually for business purposes. Once the minimum contacts requirement is met, the court must determine that the contacts are sufficient so that the assertion of jurisdiction will not offend the traditional notions of fair play and substantial justice. ...
Minimum subscription
Minimum subscription is the minimum cash to be raised by the issue of shares offered to the public for subscription. This must be stated in the prospectus and application sums therefor received before allotment of shares. The amount includes the minimum required, in the opinion of directors, for property to be bought by the proceeds of issue, preliminary expenses, if any repayment of loans for those purposes and working capital; see (English) Companies Act, 1929, s. 39 and 4th Sched...
Optima est lex quae minimum relinquit arbitrio judicis, optimus judex qui minimum sibi
Optima est lex quae minimum relinquit arbitrio judicis, optimus judex qui minimum sibi. [* Also termed a 'Speech'] The best law is that which leaves the least to the discretion of the judge, the best judge is he who leaves the least to himself (his own discretion)....
Optima est lex que minimum relinquit arbitrio judicis; optimus judex qui minimum sibi
Optima est lex que minimum relinquit arbitrio judicis; optimus judex qui minimum sibi [Lat.], that law is best which confides as little as possible to the discretion of a judge; that judge the best who trusts as little as possible his own judgment...
- << Prev.
- Next >>
Sign-up to get more results
Unlock complete result pages and premium legal research features.
Start Free Trial