Английский язык: Сборник текстов и упражнений. Бодргина Л.И - 75 стр.

       USES TAX
       USES TAX a tax imposed upon property purchased in one jurisdiction but
brought into another jurisdiction. The jurisdiction imposing a “use tax” does so to
curtail out-of-state purchases made for the purpose of avoiding sales taxes. The
rate of a use tax is generally the same as the rate of a sales tax.
       WITHHOLDING TAX
       WITHHOLDING TAX the amount of income tax withheld from a payment
of income. For example, an employer is required to withhold taxes from an em-
ployee’s salary when the salary is paid to the employee. The amount withheld is a
credit against the amount of income taxes that the employee must pay on income
earned for the taxable year.
       INTEREST
       INTEREST in commercial law, consideration paid for the use of money
loaned or forbearance in demanding it when due. Interest is a means of compensa-
tion, and expresses a formula consisting of the amount charged (a percentage), the
amount loaned, and the time involved.
       COMPOUND INTEREST
       COMPOUND INTEREST-interest paid not only upon the principal sum,
but also upon the interest previously paid on that sum. Thus, interest already paid
or accrued becomes part of the principal, for purpose of subsequent interest calcu-
lations.
       INTEREST RATE
       INTEREST RATE the amount of interest paid, usually expressed as a percen-
tage of the amount of the underlying debt.
       DIVIDEND
       DIVIDEND profits appropriated for division among stockholders. The
amount any stockholder receives depends upon whether the stockholder owns
common or preferred stock.
       CUMULATIVE DIVIDEND
       CUMULATIVE DIVEDEND a dividend which provides that, if at any time
it is not paid in full, the difference shall be added to the following payment.
       EXTRAORDINARY DIVIDEND
       EXTRAORDINARY DIVIDENDS – “ordinary dividends” are usual or cus-
tomary dividends (such) as 6 percent, or sum per share, paid at regular periods,
while “extraordinary dividends” may assume unusual form and amount, paid at
irregular intervals from accumulated surplus or earnings, and require investigation
into their source and apportionment according to equitable principles rather than
application of common law rule that a dividend belongs to the party entitled to it at
the date of its declaration.
       PREFERRED DIVIDEND
       PREFERRED DIVIDEND fund paid to one class of stockholders in priority
to that to be paid to another class.
       SCRIP DIVIDEND
       SCRIP DIVIDEND a dividend not payable in cash, but in certificates of in-
debtedness which give the holder certain rights against the corporation.
                                         75