Advance tax ruling
A written statement sought by a taxpayer from the tax authorities about the tax implications of a transaction. It is often a precondition for closing the transaction because an adverse tax ruling may make the transaction (e.g. a merger) financially unviable.
Nearby TermsAdvance funded pension plan Advance refunding Advance tax ruling Advancement Adverse opinion
Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University