Examples of Modified gross income in a sentence
Modified gross income is determined with reference to the for- eign tax base for gross income (or its equivalent).
Modified gross income is not necessarily the same as gross income as defined for purposes of chapter 1 of the Internal Revenue Code.
Modified gross income is the amount reported on line 26, reduced by the portion of such amount that is attributable to deductible amounts paid to or ac- cumulated for nonresident beneficiaries.
On October 1, 2020, the City adopted new policies and procedures for fixed assets to adhere to Florida Statute: Rule 691-72, F.A.C. The new policy defines fixed assets as tangible property with a life greater than one year and increases the capitalization threshold to $5,000.
Modified gross income" may not be diminished by deductions or offset by losses which may be allowed under the New Mexico Income Tax Act or under the Internal Revenue Code of 1986, as amended or renumbered.
Modified gross income is the amount reported on line 34, reduced by the portion of such amount that is attributable to deductible amounts paid to or ac- cumulated for nonresident beneficiaries.
For further guidance, see § 1.861–12(c)(3)(i).* * * * *(iii) Modified gross income method.
Modified gross income is different from federal adjusted gross income, federal taxable income, or New Mexico taxable income.
For further guidance,see § 1.861–12T(c)(3)(ii).(iii) Modified gross income method.
See § 1.861– 9T(h)(5) for further guidance con- cerning characterization of stock in a related person under the fair market value method.(iii) Modified gross income method.