California Codes > Revenue and Taxation Code > Division 2 > Part 11 > Chapter 4.5 – Tax Treatment of S Corporations and Their Shareholders
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Terms Used In California Codes > Revenue and Taxation Code > Division 2 > Part 11 > Chapter 4.5 - Tax Treatment of S Corporations and Their Shareholders
- Amortization: Paying off a loan by regular installments.
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- County: includes city and county. See California Water Code 14
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
- State: means the State of California, unless applied to the different parts of the United States. See California Water Code 18
- Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
- Trustee: A person or institution holding and administering property in trust.
- United States: means the United States of America, and in relation to any particular matter includes the officers, agents, employees, agencies, or instrumentalities authorized to act in relation thereto. See California Water Code 20