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What Is a 'Tax Base' and How Is It Calculated

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What is a 'tax base' and how is it calculated?


Definitions:

Revocable

Capable of being revoked, withdrawn, or cancelled, often referring to trusts, licenses, or permissions.

Effective Delivery

The successful transfer of a document or item to its intended recipient in a manner that meets legal or contractual obligations.

Gratuitous Assignment

The transfer of rights or property from one party to another without any exchange of value or consideration.

Assignee's Assent

The agreement or acceptance by the assignee to accept the terms and conditions of an assignment.

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