Examlex
Which of the following hotels has received all of the hospitality industry and consumer organization awards including the prestigious Malcolm Baldridge National Quality Award?
Taxable Income
The portion of one's income that is subject to taxes by federal, state, and/or local governments, calculated after deductions and exemptions.
Carryforward
A tax provision allowing current losses or credits to be used in future tax years to offset potential gains or income.
Net Income
The amount of earnings left after all expenses, taxes, and costs have been subtracted from total revenue.
FMV
Fair Market Value, an estimate of the market value of a property or asset, based on what a knowledgeable, willing, and unpressured buyer would likely pay to a knowledgeable, willing, and unpressured seller in the market.
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