Examlex
All income earned by a Swiss corporation owned by a U.S. corporation is deferred from U.S. taxation until such income is remitted back to the United States.
Income that is characterized as subpart F income could be treated as a deemed dividend back to the United States in the year earned by the foreign corporation.
Plugged Breather
A condition where the vent or breather in a mechanical system is blocked, potentially leading to pressure build-up or operational issues.
Splitter Slip-Out
A situation where the splitter gear in a transmission disengages unexpectedly, often leading to a loss of power or control.
Clutch On Upshifts
The action of engaging the clutch during upward gear changes to smooth the transmission of power in a vehicle.
Pre-Selecting
Pre-selecting involves the advance selection or setting of a mode, gear, or option before it is actively needed, allowing a system or device to respond more quickly or fluidly at the moment of activation.
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