28 the NII Tax Is Assessed on the Greater of Net

question 59

True/False

28 The NII tax is assessed on the greater of net investment income or modified adjusted gross income.

---

Definitions:

CISG

stands for the United Nations Convention on Contracts for the International Sale of Goods, a treaty providing a uniform international sales law.

Specific Exclusions

Provisions in a contract, insurance policy, or law that explicitly remove certain events, actions, or items from coverage or regulation.

Personal Use

Utilization of an item or service purely for an individual's needs or enjoyment, not for business or commercial purposes.

NAFTA

The North American Free Trade Agreement, a treaty between the United States, Canada, and Mexico designed to remove tariff barriers between the three countries.