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Tax liability |
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Tax liabilityThe amount in taxes a taxpayer to the government.Tax liability Similar MatchesUmbrella personal liability insuranceUmbrella personal liability insuranceIn the US, liability insurance giving excess cover over and above that cover provided by other policies. For example if general policies give total liability insurance cover of $400,000, an umbrella policy could typically provide cover of $1 million. If a claim of $700,000 were made the umbrella policy would pay out only after the $400,000 has been first exhausted. Joint and several liabilityJoint and several liabilityAn undertaking by a group of two or more people to be responsible, either individually or jointly, for any liability which may exist after any member or members have failed to meet their obligations. For example if a group of four people enter into a joint and several liability on a bank loan, then in the event of two of the members reneging on their obligations the remaining two members become fully responsible for the repayment of the loan. Noncurrent liabilityNoncurrent liabilityA liability due in one year. Limited liabilityLimited liabilityThe principle that the liability of shareholders for debts of a corporation or limited company is limited to the nominal value of their shares. In other words, their personal assets are not at risk if the company becomes insolvent and is liquidated. Limited liability instrumentLimited liability instrumentA security, such as a call option, in which the owner can lose only the initial investment. Further SuggestionsFunded Liabilityjoint liability Contractual liability Lender liability lawsuits Liability Umbrella personal liability policy liability insurance Liability insurance Contingent pension liability Limited liability Joint liability Unlimited liability |
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