yield, n. Profit expressed as a percentage of the investment. — Also termed yield on investment; return. See RATE OF RETURN. coupon yield. The annual interest paid on a security (esp. a bond) divided by the security’s par value. — Also termed nominal yield. current yield. The annual interest paid on a security (esp. a […]
Tax. An item on the books of an S corporation (usu. an equity item on the corporation’s balance sheet) to account for taxable-income items passed through to shareholders, such as accumulated earnings — earned before the corporation converted from a C corporation to an S corporation — that would have been distributed as a dividend
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A corporation’s direct or indirect transfer of money or other property, or incurring of indebtedness to or for the benefit of its shareholders, such as a dividend payment out of current or past earnings. [Cases: Corporations 155(1). C.J.S. Corporations § 300.]
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A dividend that is not actually paid to the shareholders, but is taxed to the shareholders and increases the basis in their stock investment. • A corporation declares a consent dividend to avoid or reduce an accumulated-earnings or personal-holding-company penalty tax.
before-and-after theory. Antitrust. A method of determining damages for lost profits (and sometimes overcharges), whereby the plaintiff’s profits are examined before, during, and after the violation to estimate the reduction in profits due to the defendant’s violation. — Also termed before-and-after method. Cf. YARDSTICK THEORY; MARKET-SHARE THEORY. “In its simplest form, the [before-and-after] theory looks
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pimp, n. A person who solicits customers for a prostitute, usu. in return for a share of the prostitute’s earnings. See PANDERING(1). Cf. BAWD. [Cases: Prostitution 1. C.J.S. Prostitution and Related Offenses §§ 2–4, 8–13, 17, 21–24.] — pimp, vb. — pimping, n.
taxation. 1. The imposition or assessment of a tax; the means by which the state obtains the revenue required for its activities. [Cases: Internal Revenue 3001–3007; Taxation 1. C.J.S. Internal Revenue §§ 2, 4; Taxation §§ 1–3, 5–6.] double taxation. 1. The imposition of two taxes on the same property during the same period and