Taxable gifts definition

Taxable gifts means the transfers by gift which are included in taxable gifts for federal gift tax purposes under Section 2503 and Sections 2511 to 2514, inclusive, and Sections 2516 to 2519, inclusive, of the Internal Revenue Code of 1986, or any subsequent corresponding internal revenue code of the United States, as amended from time to time, less the deductions allowed in Sections 2522 to 2524, inclusive, of said Internal Revenue Code, except in the event of repeal of the federal gift tax, then all references to the Internal Revenue Code in this section shall mean the Internal Revenue Code as in force on the day prior to the effective date of such repeal.
Taxable gifts means gifts chargeable to gift-tax under this Act; (xxiiia) territories to which this Act extends shall be deemed to include the Union territory of Dadra and Nagar Haveli, Goa, Daman and Diu, and Pondicherry –

Examples of Taxable gifts in a sentence

  • Taxable gifts reconciliation (to be used for lines 4 and 9 of Part 2—Tax computation)Line 4 worksheet.

  • Taxable gifts are those gifts that are considered taxable for federal gift tax purposes.

  • Taxable gifts are the total amount of gifts made during the year, less certain deductions.

  • Taxable gifts made after December 31, 2009 will also be entitled to a credit that will be calculated on the basis of the $1,000,000 exclusion.

  • Taxable Gifts for Preceding Calendar Periods 602 § 25.2504–1 Taxable gifts for preceding calendar periods.

  • Taxable gifts (a)General definitionThe term "taxable gifts" means the total amount of gifts made during the calendar year, less the deductions provided in subchapter C (section 2522 and following).

  • Taxable gifts exclude the transfer of tangible personal property and real property having a situs outside this state.

  • Statute of Limitations Taxable gifts are typically added to the taxable estate in determining the estate tax liability.

  • Taxable gifts that utilize any part of the lifetime exclusion amount reduce the exclusion amount that will be available against the estate tax at death.Making taxable gifts while you are living can be a way to reduce the overall gift and estate tax that might apply to your estate.

  • Despite the continuing decline in the number of children served in TFC homes in Oklahoma, the waitlist of children who need a TFC placement has fallen significantly.

Related to Taxable gifts

  • taxable service means any service provided or to be provided –

  • Taxable Allocation means, with respect to any Series, the allocation of any net capital gains or other income taxable for federal income tax purposes to a dividend paid in respect of such Series.

  • Income Tax Return means any Tax Return relating to Income Taxes.

  • Taxable income means, in the case of an individual, federal adjusted gross income determined without regard to 26 U.S.C. § 168(k) and:

  • Taxable means either:

  • Taxable Wage Base means, with respect to any Plan Year, the contribution and benefit base under Section 230 of the Social Security Act at the beginning of such Plan Year.

  • Pre-Tax Income means income, as determined by GAAP, prior to deduction of the Bonus Pool (as hereinafter defined) and income taxes, and if applicable, after the deduction of any bonus pool of a future officer bonus plan adopted by the Company relating to an applicable Award Year and adjustments approved by the Board as described herein.

  • Tax means any tax, levy, impost, duty or other charge or withholding of a similar nature (including any penalty or interest payable in connection with any failure to pay or any delay in paying any of the same).

  • Taxable Year means a taxable year of the Corporate Taxpayer as defined in Section 441(b) of the Code or comparable section of state or local tax law, as applicable (and, therefore, for the avoidance of doubt, may include a period of less than 12 months for which a Tax Return is made), ending on or after the IPO Date.

  • taxable territory means the territory to which the provisions of this Act apply;

  • Distribution Taxes means any Taxes incurred solely as a result of the failure of the Intended Tax Treatment of the Restructuring, the Contribution or the Distribution.

  • Pre-Tax Contributions means, for any Participant, the aggregate of the Participant's Basic Pre-Tax Contributions and Supplemental Pre-Tax Contributions contributed to the applicable Pre-Tax Contribution Account.

  • Pre-Distribution Tax Period means any taxable period (or portion thereof) that ends on or before the Distribution Date.

  • Non-Income Tax Return means any Tax Return relating to Taxes other than Income Taxes.

  • Post-Distribution Tax Period means a Tax year beginning and ending after the Distribution Date.

  • Income Tax Returns means all Tax Returns relating to Income Taxes.

  • taxable trading means carrying on a trade or business for the principal purpose of raising funds and not for the purpose of actually carrying out the Objects, the profits of which are subject to corporation tax;

  • non-taxable territory means the territory which is outside the taxable territory;

  • Taxable Period means any taxable year or any other period that is treated as a taxable year (or other period, or portion thereof, in the case of a Tax imposed with respect to such other period, e.g., a quarter) with respect to which any Tax may be imposed under any applicable Law.

  • Payroll Taxes means State Unemployment Insurance (SUI), Federal Unemployment Insurance (FUI), and payments pursuant to the Federal Insurance Contributions Act (FICA).

  • Transaction Payroll Taxes means all employer portion payroll or employment Taxes incurred in connection with any bonuses, option cash-outs or other compensatory payments in connection with the Transactions.

  • council tax benefit means council tax benefit under Part 7 of the SSCBA; “couple” has the meaning given by paragraph 4;

  • Taxable Event means any change in control or other event which triggers the imposition of any Excise Tax on any Payment.

  • Net Taxable Income has the meaning set forth in Section 4.01(b)(i).

  • taxable person means any person who, independently, carries out in any place any economic activity, whatever the purpose or results of that activity.

  • Tax Items shall have the meaning set forth in Section 6.4.A.