Transfer tax

Definition:

A small federal tax on the movement of ownership of all bonds (except obligation of the US, foreign governments, states, and municipalities) and all stocks.

Investing Essentials


Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University

Term of the Day

Tax-neutrality

Characteristic that taxes do not interfere with the natural flow of capital toward its most productive use.

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