OTHER CURRENT LIABILITIES Definition

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OTHER CURRENT LIABILITIES includes any other current liabilities, including bank overdrafts and accrued expenses.

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INCORPORATION is a legal process through which a company receives a charter and the state in which it is based allows it to operate as a corporation.

ALTERNATIVE MINIMUM TAX (AMT) is an alternative tax which includes certain tax preference items that are added back into adjusted gross income. If higher than the regular tax, then the regular tax plus the amount by which AMT exceeds the regular tax is paid.

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