Examlex
Under capital cost allowance, residual value is not considered in determining amortization for tax purposes.
Average Tax Rate
The ratio of the total amount of taxes paid by an individual or business to the total income or profit earned.
Fiscal Year
A twelve-month period used for accounting and financial reporting purposes, which may or may not align with the calendar year.
Unfunded Mandate
A statute or regulation that requires a state or local government to perform certain actions, with no money provided for fulfilling the requirements.
No Child Left Behind
A U.S. Act of 2001 aimed at closing the achievement gap with accountability, flexibility, and choice, so that no child is left behind in education.
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