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Exempt value refers to the portion of an asset's value that is protected from claims by creditors during bankruptcy or foreclosure proceedings. This value is typically defined by state or Federal Laws and varies depending on the type of asset, such as a home or personal property. Exemptions are designed to allow individuals to retain a certain amount of their property to maintain a basic standard of living. Understanding exempt value is crucial for individuals navigating financial distress, as it helps determine what they can keep while addressing their debts.
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What does exempt mean for series 63 test?
Exempt means, the security is exempt from registration with the state because of a myriad of reasons. If the issuer is exempt that means he is exempt from registration with the state.
How are IT positions classified as exempt or non exempt?
IT people come under 'Exempt' Category.
Is insulation tax exempt?
NO. Insulation material is not exempt from income tax.
Is a LC small business tax exempt?
LC business be TAX EXEMPT NO NOT POSSIBLE FOR ANY TYPE OF LC BUSINESS TO BE TAX EXEMPT.
In most states these are not exempt from taxes?
In most states, businesses are not exempt from taxes.
What can be garnished to repay a judgment?
Anything that is not exempt under your state's laws, and any value in excess of the exempt value or amount. In Massachusetts, you get to keep a church pew and a few chickens, for example. And $125 a week of your paycheck.
When you go bankruptcy do you have to put up your house for collatoral?
In most cases you will not lose your home during your bankruptcy case as long as your equity in the property is fully exempt. Even if your property is not fully exempt, you will be able to keep it, if you pay its non-exempt value to creditors in chapter 13.
Can bartering be taxed?
Bartering can be taxed if it involves income. If the goods are traded for fair value, it may be tax exempt.
How do you keep a vehicle before you file chapter 7?
You can usually keep your car if you keep making payments. If you own the car free and clear, and below the exempt amount, you can keep the car. If the value is higher than the exempt amount, then you can pay the difference between car value and exemption to the BK trustee.
Why is value added tax divided into exempt-zero rated and standard rated?
it is a hard to explain quistion and i don't know it
If being sued what is non exempt?
Non exempt is everything that is not defined as exempt. Generally this pertains to collecting a judgment. You can't, for example, typically be forced to give up your home or your car up to a certain value satisfy a judgment and thus those items would be considered to be exempt from collection. On the other had income from a job or a savings account would be non-exempt meaning that they could be seized to satisfy the judement. You would want to check with the rules in your county to determine what would be considered exempt if you do not know.
What does exempt mean for series 63 test?
Exempt means, the security is exempt from registration with the state because of a myriad of reasons. If the issuer is exempt that means he is exempt from registration with the state.
How are IT positions classified as exempt or non exempt?
IT people come under 'Exempt' Category.
Can a for profit company lease property that is tax exempt as a non profit with out the non profit losing its tax exemept status?
In most states in the United States, an otherwise tax exempt entity losses exempt status for that portion that is leased for monetary value (whether to a for-profit or non-profit tenant). For example, if a qualifying tax exempt organization owns a 10,000 square foot building and leases 2,000 square feet to a tenant for monetary value, the 2,000 square foot portion is taxable but the remainder stays tax exempt. The lease would probably be written so that the tenant is responsible for the property taxes on the portion they lease. Check with the local assessor in your state.
Does chapter 7 bankruptcy exempt whole life policies cash value?
This is a great question, but the answer really depends on your state's law. Your state laws define the exemptions that a debtor may use in a bankruptcy.Generally, the cash value of a whole life policy is considered exempt. What is determined by state law is whether your last year's contributions are exempt or not. Some states will require you to pay out of the cash value any amount you paid in during the last 12 months. Other states may have a wild-card exemption which would permit you to exempt those payments regardless of their nature. Bankruptcy is a complex area; you should contact a bankruptcy attorney in your area to discuss this further.
Is exempted the past tense of exempt?
Yes exempted is the past tense of exempt.
When whole life cash value is converted to annuity is it taxable?
No, in that specific circumstance it is tax exempt. As a point of interest, this is known as a "1035 exchange."
