"Where Everyone Has an MBA"
Tel: (612) 246-4616
Tel: (612) 246-4616
NEGOTIABLE CERTIFICATE OF DEPOSIT is a security generally issued in increments of $1 million and, if created in good delivery form, salable in the national market through a securities dealer or a bank investment department prior to maturity.
DIVIDEND RECEIVED DEDUCTION is the reduction of dividend income from the taxable income of the investing corporation, as provided in section 301 of the Internal Revenue Code. Currently, 70% of dividends received from nonaffiliated corporations may be excluded from taxable income.
STANDBY LETTER OF CREDIT is a guarantee of payment. If the beneficiary does not get paid from its customer it can then demand payment from the customers Bank by forwarding the copy of the invoice that was not paid along with predetermined supporting documentation.
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