business law

surcharge

A surcharge means:

An additional amount of money charged over a tax, charge, or cost, that may arise because it was initially omitted or as a penalty for late payment. For example, paying a bill late may cause a surcharge for the...

surety

A surety is a person or entity that assumes direct liability for another’s obligation. Financial creditors may require the debtor to find a surety, who then signs the loan agreement along with the debtor. A financial surety’s liability arises...

surety bond

A surety bond is a contractual agreement involving three parties:

The principal The obligee The surety

The principal is the party that needs the bond, the obligee is the party that requires the bond, and the surety is...

swindle

To swindle means to dispossess someone of money or property through fraud or deceit.

[Last updated in March of 2022 by the Wex Definitions Team]

syndicate

A syndicate is an association or a joint venture formed to achieve a common business objective. For example, a syndicate may be formed by a group of investment bankers to underwrite and distribute new shares.

[Last updated in March...

takeover

A takeover occurs when the controlling interest in a corporation shifts from one party to another. Takeovers are categorized as either hostile or friendly depending on whether the management of the company being taken over is a willing...

tax auditor

A tax auditor is a financial professional who specializes in taxes and evaluates financial records to determine whether they comply with applicable laws and regulations. Tax auditors, applying accounting principles, examine companies,...

Tax Cuts and Jobs Act of 2017 (TCJA)

The Tax Cuts and Jobs Act of 2017 (TCJA) is the unofficial name for the large set of changes to the Revenue Code of 1986, signed into law by President Trump in 2017. TCJA made many large changes across multiple areas of the tax code,...

tax optimization

Tax optimization consists of lowering the amount of tax liability by complying with the tax obligations in force in a given state/country by using the regulations to the taxpayer’s advantage. The taxpayer will thus use and take advantage of...

tax registration certificate

Tax registration certificate is a required document for businesses and certain entities to have in order to conduct their activities in a jurisdiction. The tax registration certificate is often a part of or issued alongside a business license...

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