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Tel: (612) 246-4616
Tel: (612) 246-4616
CONSULAR DECLARATION is a formal statement to the consul of a foreign country declaring the merchandise to be shipped.
INCLUDABLE COMPENSATION is defined in section 403(b)(3) of the Internal Revenue Service (IRS) Code as compensation, received from a qualifying employer by an employee, which is includible in the employees gross income for the most recent period which may be counted as 1 year of service. In this connection, section 1.403(b)-1(e)(1) of the regulations provides that for purposes of computing an employees exclusion allowance for a taxable year, such employees includible compensation in respect of such taxable year means the amount of compensation which is includible in his gross income.
GENERAL LEDGER is the ledger that contains all of the financial accounts of a business; contains offsetting debit and credit accounts (including control accounts).
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