FUTA Meaning – Federal Unemployment Tax Act FUTA Meaning: The Federal Unemployment Tax Act (FUTA) is federal legislation that imposes a payroll tax on any business with employees. The revenue it generates is allocated to state unemployment insurance agencies. These funds are used to pay unemployment benefits for people who […]
Legal Terms
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What Is Fair Market Value (FMV)? FMV or Fair Market Value is the price that a willing buyer will pay to a willing seller. It further assumes that both parties are knowledgeable and unrelated and neither is forced to make the deal. Fair market value (FMV) in real estate is […]
What Is a Purchase Money Security Interest (PMSI)? A Purchase Money Security Interest (PMSI) is a security agreement where a lender loans purchase money for certain goods which are then pledged to the lender as collateral for the loan. In other words, the lender uses the goods purchased as collateral […]
What Is Combat Pay? Combat pay or imminent danger pay is a bonus to military personnel in addition to their regular military salary when they are deployed to a combat zone. It is a tax-exempt monthly stipend. The bonus is paid to active members of the U.S. armed services when […]
What are Littoral Rights? Littoral rights refer to the legal use and enjoyment of the shoreline for land that borders a pooled body of water like a pond, lake, or sea. Littoral land refers to land that borders a pooled body of water, such as a lake, ocean, or sea. […]
What Is the Treasury Stock Method? The Treasury stock method is used to compute the number of new company shares that can be created from existing in-the-money warrants or options. The treasury stock method is an accounting procedure. Companies use it to compute the number of new shares they can […]