Examlex
Detective Dan just completed a lengthy investigation into a complex embezzlement case involving gourmet food trucks at a local outdoor market. During his surveillance he noted that sales were frequently made without using the cash register and that it was common for the person taking orders from customers to commingle money from sales with personal funds. Prosecutor Paula decided to take the case to the grand jury instead of having a preliminary hearing. What is the advantage of doing this?
Estimated Payment
Payments made to cover taxes on income not subject to withholding, like earnings from self-employment, often paid quarterly to avoid underpayment penalties.
Subchapter S Corporation
A Subchapter S Corporation is a form of corporation that meets specific Internal Revenue Code requirements, allowing it to pass income directly to shareholders and avoid double taxation.
Corporate Net Income
The amount of profit a company has earned during a specific period after all expenses, taxes, and costs have been subtracted from total revenue.
Proportionate Share
A portion or percentage of an entity or amount that corresponds to an individual's part in the whole.
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