An additional income Tax under the Code that applies in certain instances for individuals and in a different way to certain large corporations. Interest on Governmental Bonds issued as Tax-Exempt Bonds is generally excluded from the Alternative Minimum Tax, although corporations must include the Interest in certain calculations. However, Interest on qualified Private Activity Bonds (PAB) (other than Qualified 501(c)(3) Bonds and certain other PABs) is included as income by taxpayers in calculating the AMT.
The term used in the Code to describe any bond issued as part of a bond issue that meets both of the private business tests or meets the private loan financing test.
Any use of Bond proceeds in a trade or business carried on by a person other than a governmental unit. The private business tests are used in part to establish whether a bond is a private activity bond (PAB).
This is because Bond Counsel is expected to deliver an unqualified approving legal opinion in accordance with the “NABL Standard.” The NABL Standard provides that Bond Counsel must be “firmly convinced” that under the law in effect on the date of the opinion, the highest court of the relevant jurisdiction, if ...
Governments, corporations and municipalities issue bonds when they need capital. An investor who buys a government bond is lending the government money. If an investor buys a corporate bond, the investor is lending the corporation money.
National Accreditation Board for Testing and Calibration Laboratories (NABL) is an accreditation body, with its accreditation system established in accordance with ISO/ IEC 17011.
Accreditation helps to reduce costs for manufacturers and exporters who have their products or materials tested in accredited laboratories, by reducing or eliminating the need for retesting in another country.
It provides feedback to laboratories as to whether they are performing their work in accordance with international criteria for technical competence. The concept of laboratory accreditation was developed to provide third-party certification that a laboratory is competent to perform the specific test or type of tests.
What is ISO / IEC 17025 NABL ? ISO 17025 is the equivalent of ISO 9000 for calibration and testing laboratories. It applies to any organization that wants to assure its customers of precision, accuracy and repeatability of results. This includes in-house laboratories for which assurance of results is at a premium.
The National Association of Bond Lawyers (NABL) exists to promote the importance and integrity of the municipal market by advancing the understanding of and compliance with the law affecting public finance.
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