Examlex
The deduction for charitable contributions in calculating the regular income tax can differ from that in calculating the AMT, because the percentage limitations 20%, 30%, and 50%) may be applied to a different base amount.
Right to Payment
A legal entitlement to receive money as a result of a contract or legal agreement.
Liquidation
The process of converting company assets into cash to pay off debts, often preceding the dissolution of the company.
Trustee
A person or firm that holds and administers property or assets for the benefit of a third party.
Assets
Resources owned by a company or individual with economic value.
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