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A division. The term may be used in insurance to indicate which policy bears what percentage of a loss. Alternatively, it may be used in the sale of real estate to show the property tax or insurance the buyer and the seller each owe for a year. See also: Apportionment Clause.


To divide into parts.Co-owners of property may decide to apportion maintenance costs among themselves, according to the percentage of ownership enjoyed by each. Buyers and sellers usually apportion real estate taxes so that the portion earned by local government before closing,but not yet paid because not yet due,will be paid by the seller in the form of a credit against the purchase price.When the property tax bill is later received by the buyer,he or she will pay the entire bill in full, but will have already received the equivalent of reimbursement through the credit at closing.

References in periodicals archive ?
This section discusses four key issues that arise under CCBT: the definition of taxable and apportionable income, the choice of groups to which FA is to be applied, the choice and definition of apportionment factors, and tax administration.
If the federal government needed to collect $72 billion in apportionable direct tax from the two states to pay the war debts, the total would be apportioned [3.
Under the first alternative, "receipts" are defined as "gross receipts of the taxpayer that are received from, or associated with, transactions or activities generating apportionable business income defined in Art.
202) It is important to keep in mind that, for purposes of evaluating the constitutional validity of an apportionment formula that attributes nowhere income to source states, the resident state would also be considered a source state, because it would receive its share of the taxpayer's apportionable income based on its apportionment percentage.
After several levels of appeals, the Alabama Supreme Court held that the gain from the sale constituted nonbusiness income allocable in full to Alabama, rather than being apportionable across Kimberly-Clark's entire business.
Much of the state-level controversy about section 338(h)(10) conformity centers on whether the election is respected for state tax purposes (specifically with respect to nonresident shareholders); whether the election is made for state purposes if the state does not recognize consolidated/combined groups for state tax purposes; whether the election is made for state purposes if the state does not recognize S corporations (or if the state does not recognize the particular target corporation as an S corporation); whether gain from a section 338(h)(10) transaction is treated as apportionable business income or allocable nonbusiness income; and/or whether (and how) that gain affects the sales factor for apportionment purposes.
Since KC treated the gain as apportionable business income in other States--a treatment endorsed by those States--the Department's assessment subjected KC to multiple taxation on the gain from its sale of the Coosa Properties.
Taxpayers engaged in apportionable activities are deemed to have substantial nexus if (1) property in Washington exceeds $50,000; (2) payroll in Washington exceeds $50,000; (3) Washington receipts exceed $250,000; or (4) at least 25% of the taxpayer's total property, payroll, or receipts are in Washington.
9) Ultimately, the Court in that case found that the relationship between the in-state taxpayer and its foreign subsidiary met the unitary business test forcing the taxpayer to include the dividend in its apportionable tax base.
1231 gains/losses, (3) calculation of the limitation that applies for the use by a taxable combined group member of a Massachusetts NOL carryforward that it derived in a tax year prior to becoming a member of the combined group, and (4) the relationship between allocable and apportionable losses and loss carryforwards.
Unless the sales, payroll, and property values connected with the production of income by the payor corporations are added to the denominator of the apportionment formula, the inclusion of earnings attributable to those corporations in the apportionable tax base will inevitably cause Mobil's Vermont income to be overstated.
applies its fraction to determine the income apportionable to X?