What CONTRACT PRICE means: With respect to an installment sale, one of the amounts used to compute the percentage of each principal payment that is taxable as gain. The contract is equal to the gross selling price when no mortgages are assumed. If a mortgage is assumed, the contract price is the gross selling price minus the amount of the mortgage plus the excess (if any) of the mortgage over the seller's basis and expenses of sale.
- Definition Cost Method Of Inventory Valuation:
- Dictionary Valuing inventory purchased during the year at cost; that is, the invoice price less any discounts plus transportation or other costs incurred in acquiring the merchandise contract price definition.
- Definition Child:
- Dictionary the term child includes the taxpayer's son, duaghter, stepchild, eligible foster child, or a descedant of any of them, or an adopted child. It also includes the taxpayer's brother, sister contract price explain.
- Definition Community Income:
- Dictionary couple, living in a community property state, that is considered to belong equally to each spouse, regardless of which spouse receives the income. The community property states are Arizona contract price what is.
- Definition Callable:
- Dictionary or part of which may be redeemed before maturity by the issuing corporation under specific conditions. The term also applies to preferred shares of stock, which may be redeemed by the issuing contract price meaning.
How works Contract Price meaning in Tax definitions C .
