What PARTNERSHIP means: A form of business in which two or more persons join their money and skills in conducting the business. Partnerships must file a return but are not subject to tax. Each partner reports his or her share of the partnership's income, gains, losses, deductions, and credit on his or her individual return.
- Definition Personal And Dependent Exemptions:
- Dictionary an exemption for each taxpayer and spouse (if a joint return is filed) who is not eligible to be claimed as a dependent on another taxpayer's return and for each dependent. The exemption amount partnership definition.
- Definition Percentage Depletion:
- Dictionary percentage depletion is a specified percentage of the gross income from the property, subject to other limits. Percentage depletion is allowed for nearly all natural resources, except timber. See partnership explain.
- Definition Pension:
- Dictionary periodically of (generally) a definite amount for a specified period (usually life) from an employer-funded plan to workers who have met the stated requirements. Its primary purpose is to provide partnership what is.
- Definition Pension/Annuity Starting Date:
- Dictionary The first day of the first period for which an amount is due as a pension/annuity payment under the contract partnership meaning.
How works Partnership meaning in Tax definitions P .
