Terms Used In Arizona Laws > Title 43 > Chapter 10 > Article 3 - Adjustments to Arizona Gross Income

• Amortization: Paying off a loan by regular installments.
• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• Board: means the state board of tax appeals or, if applicable, a division of the state board. See Arizona Laws 43-104
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Corporation: means a corporation, joint stock company, bank, insurance company, business trust or so-called "Massachusetts trust" investment company or building and loan association and any other association whether incorporated or unincorporated. See Arizona Laws 43-104
• Department: means the department of revenue, the director or the director's authorized delegate, as the context requires. See Arizona Laws 43-104
• Dependent: A person dependent for support upon another.
• Donee: The recipient of a gift.
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• including: means not limited to and is not a term of exclusion. See Arizona Laws 1-215
• Individual: means a natural person. See Arizona Laws 43-104
• Legal tender: coins, dollar bills, or other currency issued by a government as official money. ^{Source: U.S. Mint}
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• Month: means a calendar month unless otherwise expressed. See Arizona Laws 1-215
• Partner: means a member of a partnership. See Arizona Laws 43-104
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Partnership: includes a syndicate, group, pool, joint venture or other unincorporated organization, through or by means of which any business, financial operation or venture is carried on and that is not, within the meaning of this title, a trust, estate or corporation. See Arizona Laws 43-104
• Person: means an individual. See Arizona Laws 43-1001
• Property: includes both real and personal property. See Arizona Laws 1-215
• Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• Resident: includes :

  (a) Every individual who is in this state for other than a temporary or transitory purpose. See Arizona Laws 43-104

• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• Spouse: means the wife or husband of the taxpayer. See Arizona Laws 43-1001
• Tax: means the taxes imposed under this title. See Arizona Laws 43-104
• Taxable year: means :

  (a) The calendar year or the fiscal year, ending during such calendar year, on the basis of which the taxable income is computed under this title. See Arizona Laws 43-104

• Taxpayer: means any person who is subject to a tax imposed by this chapter. See Arizona Laws 43-1001
• Trade or business: includes the performance of the functions of a public office. See Arizona Laws 43-104
• United States: when used in a geographical sense, includes the states, the District of Columbia and the possessions of the United States. See Arizona Laws 43-104