Tax status election

(redirected from Tax Election)

Tax status election

The decision of the status under which to file a tax return. For example, a corporation may file as a C corporation or an S corporation.

Tax Status Election

The decision by a person or company about one's filing status. For example, a married person may file jointly with, or separately from, his/her spouse. Likewise, a company often may file as an S corporation or a C corporation. One makes a tax status election depending on one's circumstances and the filing status that is most advantageous.
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8-2018 to mean that only VAT exempt persons or those whose gross annual sales or receipts do not exceed the P3 million threshold and thus, are covered by the three percent OPT imposed by Section 116 of the Tax Code, as amended, can make the eight percent tax election.
As noted above, an extension generally does not extend the time in which to pay; however, where payment of any balance due is not the issue, an extension will allow a taxpayer to file an omitted information return or make a valid tax election that may not have been an option without the extension.
SCOTTISH Labour wanted this to be the tax election.
We just use the name "enterprise risk captive" because we think that does a better job of reflecting their true business purpose than just calling them by their tax election.
Since it would not be the recommendation of the administration, nor will time allow for a property tax election, the only option to avoid a deficit in the program is to reduce services," Daniel says in the letter that was sent to council members and local media outlets.
Execution by an unauthorized individual can potentially produce a host of unintended and unfortunate consequences, including: invalidating an entire return, (1) jeopardizing closing agreements and other settlements, (2) nullifying a tax election, (3) and triggering penalties.
Manulife Investments, a division of Manulife Asset Management Limited, today announced that it will provide its investors who are US taxpayers, with information to allow them the option to make a special tax election, the Qualified Electing Fund (QEF) election, when filing their US tax return for 2014.
W-8 series form with proper tax election verbiage; 2.
From the standpoint of the taxpayer, a tax election offers flexibility and the potential to decrease her tax liability, but also requires her to invest resources in understanding the election.
Of course, the question about the relationship between a taxpayer's state-level tax election and the taxpayer's federal-level tax election could be addressed by federal, rather than state, legislators.
At the time, the company believed that a tax election might be available to the company that would result in a taxable gain on the transfer of these properties to the REIT," the proxy states.
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