Federal Laws That Control the Sale of Securities Are Called

question 91

True/False

Federal laws that control the sale of securities are called blue sky laws.

---

Definitions:

Ordinary Income

Refers to the type of income earned by an individual that is subject to standard tax rates, including wages, salaries, commissions, and income from interest or dividends.

Long-Term Capital Losses

Losses incurred from selling assets that have been held for over a year, which can be applied to counterbalance capital gains when calculating taxes.

Short-Term Capital Gains

Profits from the sale of an asset held for one year or less, typically taxed at higher rates than long-term capital gains.

AGI

Adjusted Gross Income, which is total income minus specific deductions, used to calculate tax liability.