Terms Used In U.S. Code > Title 8 > Chapter 14 > Subchapter II - Eligibility for State and Local Public Benefits Programs

• Amortization: Paying off a loan by regular installments.
• Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
• cooperative bank: means an institution without capital stock organized and operated for mutual purposes and without profit, which&mdash. See 26 USC 7701
• corporation: includes associations, joint-stock companies, and insurance companies. See 26 USC 7701
• Decedent: A deceased person.
• Dependent: A person dependent for support upon another.
• domestic: when applied to a corporation or partnership means created or organized in the United States or under the law of the United States or of any State unless, in the case of a partnership, the Secretary provides otherwise by regulations. See 26 USC 7701
• employee: shall include a full-time life insurance salesman who is considered an employee for the purpose of chapter 21. See 26 USC 7701
• Fiduciary: A trustee, executor, or administrator.
• foreign: when applied to a corporation or partnership means a corporation or partnership which is not domestic. See 26 USC 7701
• including: when used in a definition contained in this title shall not be deemed to exclude other things otherwise within the meaning of the term defined. See 26 USC 7701
• joint return: means a single return made jointly under section 6013 by a husband and wife. See 26 USC 7701
• Legatee: A beneficiary of a decedent
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Markup: The process by which congressional committees and subcommittees debate, amend, and rewrite proposed legislation.
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• paid or accrued: shall be construed according to the method of accounting upon the basis of which the taxable income is computed under subtitle A. See 26 USC 7701
• partner: includes a member in such a syndicate, group, pool, joint venture, or organization. See 26 USC 7701
• person: shall be construed to mean and include an individual, a trust, estate, partnership, association, company or corporation. See 26 USC 7701
• Public debt: Cumulative amounts borrowed by the Treasury Department or the Federal Financing Bank from the public or from another fund or account. The public debt does not include agency debt (amounts borrowed by other agencies of the Federal Government). The total public debt is subject to a statutory limit.
• qualified alien: includes &mdash. See 8 USC 1641
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• Secretary: means the Secretary of the Treasury or his delegate. See 26 USC 7701
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• shareholder: includes a member in an association, joint-stock company, or insurance company. See 26 USC 7701
• State: shall be construed to include the District of Columbia, where such construction is necessary to carry out provisions of this title. See 26 USC 7701
• stock: includes shares in an association, joint-stock company, or insurance company. See 26 USC 7701
• taxable year: means the calendar year, or the fiscal year ending during such calendar year, upon the basis of which the taxable income is computed under subtitle A. See 26 USC 7701
• taxpayer: means any person subject to any internal revenue tax. See 26 USC 7701
• trade or business: includes the performance of the functions of a public office. See 26 USC 7701
• transaction: includes a series of transactions. See 26 USC 7701
• United States: when used in a geographical sense includes only the States and the District of Columbia. See 26 USC 7701
• United States person: means &mdash. See 26 USC 7701