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tax liability

NOUN
  1. the amount of tax owed; calculated by applying the tax rate to the tax base

How To Use tax liability In A Sentence

  • Their January payment, whatever accounting year it was based on, met their full tax liability for the ongoing fiscal year.
  • The company's corporation tax liability is due on 1 October 1995 and its returns and accounts by 31 December 1995.
  • A tax liability would therefore arise but the cash may not be available to meet this obligation.
  • In 2004 the units - based in Revenue regions across the country - detected and registered 869 defaulters with tax liability.
  • * I think the tax credit is 1000 per child up to a rather high income limit (100k?), and this particular proposal is tweaking the low end with refundability for those people only paying less than $2000 a year in fed taxes anyway (current law a family of 4 with an income of 40K has a fed income tax liability of around $1500) Matthew Yglesias » Child Tax Credit Stimulus
  • You can get penalized when you overwithhold against your state tax liability. Don't Overestimate Your State Tax
  • Created by Congress in 2005, the ITC is a reduction in overall tax liability for individuals or businesses that invest in solar energy generation technology. Future of federal solar programs in doubt
  • First, it would be necessary to monitor the quantity of pollution of each firm in order to assess its tax liability.
  • The reduced capital gains tax rate encouraged many people to trade assets they had been sitting on for many years because of their reluctance to crystallise a tax liability and made for a more efficient allocation of capital overall.
  • Individuals owning their own businesses must compare the expected tax liability of a proprietorship or partnership with the liability of a corporation.
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