apportion

(redirected from apportioning)
Also found in: Dictionary, Thesaurus, Legal, Idioms.

Apportionment

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.

apportion

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 ?
Plaintiff reasoned that, because the economic loss rule precluded her from suing the Fabre defendants in tort, it was improper and unfair for the defendant general contractor to decrease its percentage of fault by apportioning fault to these persons and entities.
The current method of apportioning seats in the House of Representatives of the United States, the so-called "method of equal proportions," does not even aim to make the populations of congressional districts as equal as possible.
The unitary business principle holds that the local tax base is calculated by first defining the scope of the unitary business of which the taxed enterprise's activities in the taxing jurisdiction form one part, and then apportioning the total income of the unitary business between the taxing jurisdiction and the rest of the world based on a formula "taking into account objective measures of the corporation's activities within and without the jurisdiction." Container Corp.
861 regulations in allocating and apportioning deductions to DPGR.
For example, assume that in Example 25, X has most of its property and payroll in states B and C, most its sales in state A, and that all three states follow the same three-factor formula method in apportioning net income.
* Family law/marital dissolution cases, which deal not only with the necessary financial issues, such as determining child support and alimony and tracing and apportioning assets, but also the heartrending psychological trauma the involved parties experience, which no law or business school can prepare the CPA witness for.
The in-state tax base is calculated by first defining the scope of the unitary business, of which the taxed enterprise's activities in the taxing state form one part, and then apportioning the total income of the unitary business between the taxing state and other jurisdictions based on a formula taking into account objective measures of the corporation's activities within and without the jurisdiction.
1.861-9T(g)-(i), a taxpayer may elect to value assets on the basis of tax book value or fair market value (FMV), or on an alternative tax book value method, when allocating and apportioning interest expense.
Department of the Treasury and Internal Revenue Service issued temporary and proposed regulations under section 861 of the Internal Revenue Code, relating to the use of an alternative tax book value method for allocating and apportioning interest expense.
1.904-5(c) and 1.954-1(c) provide the basic rules for allocating and apportioning a controlled foreign corporation's (CFC's) expenses.