Examlex
Each of the following statements about heme biosynthesis is correct EXCEPT
Taxable
Refers to income or transactions that are subject to tax by governmental entities according to certain rules and regulations.
Prize or Award
Monetary or material value received as a result of winning a contest or receiving an accolade, which may be taxable income.
W-2 Income
Earnings reported through a Form W-2, showing the total income and taxes withheld from an employee's paycheck by their employer.
Impute Interest
The process of assigning an implied interest rate to an interest-free or below-market interest loan, which then becomes taxable under the Internal Revenue Code.
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