Business, Legal & Accounting Glossary
A transaction in which the final selling price or payment period of an installment sale is not established by the end of the tax year in which the sale takes place. Special tax rules become applicable when the total selling price may be subject to adjustment based on a computation of future profits. The same rules may apply if sale occurs without a fixed schedule of payments.
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This glossary post was last updated: 20th November, 2021 | 0 Views.