U.S. Code > Title 26 > Subtitle C > Chapter 22 > Subchapter E – Tier 2 Tax Rate Determination
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| § 3241 | Determination of tier 2 tax rate based on average account benefits ratio |
Terms Used In U.S. Code > Title 26 > Subtitle C > Chapter 22 > Subchapter E - Tier 2 Tax Rate Determination
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
- fiscal year: means an accounting period of 12 months ending on the last day of any month other than December. See 26 USC 7701
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Secretary: means the Secretary of the Treasury or his delegate. See 26 USC 7701