Model Acts Are Drafted for Those Situations in Which a State

question 33

True/False

Model acts are drafted for those situations in which a state does not intend to adopt an entire law but intends to modify a uniform law to meet the state's requirements.

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Definitions:

Taxable Income

Income subject to tax, after deductions and exemptions, according to federal or state law.

Alimony Payments

Payments made to a spouse or former spouse under a divorce or separation agreement, possibly subject to special tax treatment.

Child Support Payments

Child Support Payments are periodic payments made by a noncustodial parent to support a child’s living expenses after a divorce or separation.

Series I Savings Bonds

U.S. government savings bonds that earn interest based on a combination of a fixed rate and an inflation rate.