OTHER INCOME Definition

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OTHER INCOME is income from activities that are not undertaken in the ordinary course of an entitys business.

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GRANDFATHERED INVESTMENTS are Municipal bonds and equities acquired on or before August 7,1986, the effec­tive date of changes in tax rates caused by the Tax Reform Act of 1986. These investments are not subject to the 5.1 % property-casualty insurance company proration tax.

AICPA is the American Institute [of] Certified Public Accountants.

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