What JOINT VENTURE means: An enterprise participated in by associates acting together, with a community of interests, each associate having the right to participate in its management. For income tax purposes, a joint venture is treated as a partnership, not taxable in its own capacity, but regarded as a taxpayer for the purpose of computing its taxable income, which is distributable among the associates in the proportions agreed upon. Such distributive shares are reported by the associates on their individual income tax returns.
- Definition Jointly Owned Property:
- Dictionary Property held in the name of more than one person joint venture.
- Definition Joint Tenancy:
- Dictionary ownership under which two or more individuals own property. Each tenant has an undivided interest in the entire property. On the death of one of the owners, the survivors become the owner of the joint venture.
- Definition Joint Return:
- Dictionary A return combining the income, exemptions, credits, and deductions of a husband and wife joint venture.
How works Joint Venture meaning in Tah definition J .