Examlex
Molecular oxygen gets into the body through breathing and leaves the body as carbon dioxide.
Taxable Gain
The profit that is subject to taxation, realized from the sale of assets or investments.
FMV
Fair Market Value; an estimate of the market value of an asset, based on what a willing buyer would pay to a willing seller.
Subchapter S Corporation
A type of corporation that meets specific Internal Revenue Code requirements, offering the benefits of limited liability of a corporation but is taxed as a pass-through entity.
Taxed
Subject to taxation by governmental authority, involving the imposition of financial charges on individual or corporate income, property, goods, services, or transactions.
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