LEASEHOLD Definition

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LEASEHOLD is an agreement between the lessee and lessor specifying the lessees rights to use the leased property for a specific purpose and given time at a specified rental payment.

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SUBPART F of the Internal Revenue Code requires certain income (called subpart F income) of a controlled foreign corporation to be currently included in the gross income of its U.S. shareholder, whether or not this income actually is distributed to the U.S. shareholder.

VALUE ADDED is the difference, at each stage of production or the provisioning of a service, between the price of a product or service and all materials or activities paid for to produce the product or provide the service.

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