EXPORT DECLARATION Definition

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EXPORT DECLARATION is the official paperwork required of exporters so trade transactions and goods can be tracked.

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TAXABLE BENEFITS are employer provided "non-cash" taxable compensation or fringe benefits, such as employer-provided vehicles, complementary tickets, and graduate level educational assistance, are subject to federal income, state income, social security, and Medicare tax rules. According to Internal Revenue Code Section 1.61-1, all compensation paid to, or on behalf of, an employee constitutes wages subject to income and employment tax withholding, unless specifically excluded by IRS code.

FINANCIAL POSITION is the status of a firms or individuals assets, liabilities, and equity positions as reflected on its financial statement.

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