installment contract


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installment contract

A contract providing for payment of the purchase price to the seller over time.Installment contracts are given favorable treatment by the IRS (www.irs.gov),which allows the seller to declare gain only as the seller receives principal payments each year,rather than requiring the seller to immediately take into income the entire gross amount of the purchase price.Interest is counted as income in the year paid.

References in periodicals archive ?
20% of the budget allocation prior to the completion of the second installment contract (this guarantee will be canceled upon signing the certificate of acceptance).
7) The IRS made no adjustments to ACC's installment contract expenditures for 1994.
Outstanding installment contracts receivable increased 374 percent to $230,306,000 at March 31, 1996, up from $48,539,000 at March 31, 1995.
You don't know the difference between precomputed retail installment contracts and interest-bearing (so called "simple interest") retail installment contracts.
Unlike the compensation costs, the overhead expenses did not originate in the process of ACC's acquisition of installment contracts and generally had no meaningful relationship to the number of credit applications analyzed.
Using Wolters Kluwer Financial Services' motor vehicle installment contracts and DocOne document printing engine and compliance validation tool, MSDMS can help dealers ensure they are meeting current regulations governing auto finance.
AUSTIN, Texas, July 19 /PRNewswire/ -- AutoBond Acceptance Corporation (Amex: ABD) ("AutoBond"), listed on the Amex under the symbol ABD, is pleased to announce that it has entered into an agreement to originate retail installment contracts on behalf of a finance company.
Chase Auto Finance purchases retail installment contracts and originates loans across the continental United States, Hawaii and Alaska.
5 million in residential mortgages and auto installment contracts as part of the liquidation of its discontinued sub-prime lending business.
The NCMLC has assigned all of its right, title and interest in the installment contracts and deeds of trust to the trustee for the benefit of the 2006A and 2006B COP holders.
Outstanding installment contracts receivable increased 261 percent to $283,566,000 at June 30, 1996, up from $78,447,000 at June 30, 1995.