Section 2503 (c) Of The Internal Revenue Code
Definition of "Section 2503 (c) of the internal revenue code"
Section of the code that qualifies the establishment of a trust for minors under which income can be accumulated until the minor reaches age 21. At that point, the accumulated income can be disbursed and the $10,000 annual gift tax exclusion for each beneficiary can be utilized.
Popular Insurance Terms
The term pro rata comes from Latin and translates to in proportion, proportionally, the proportion of, proportionately determined, or according to a specific rate. It is often used in legal ...
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