Noun. 1. ethnic minority-a group that has different national or cultural traditions from the majority of the population. ethnic group, ethnos-people of the same race or nationality who share a distinctive culture.Arab-Berbers, Berbers-an ethnic minority descended from Berbers and Arabs and living in northern Africa.thnic group, ethnos-people of the same race or nationality who share a distinctive culture. Arab-Berbers, Berbers-an ethnic minority descended from Berbers and Arabs and living in northern Africa.
07, 2014 Page 46 of 53 www.revenue.state.pa.us 6. Section 108(b)(5) provides that a taxpayer having cancellation of indebtedness income resulting from tax attribute reduction under Section 108(b)(1) may elect under Section 1017, to reduce the depreciable basis of its assets before reducing other tax attributes.
According to Jeff Schnepper at moneycentral.msn.com (12/04/09), there must be a physical injury for the settlement to be free from tax. So, an award for wrongful termination would be taxable because there is no physical injury. In fact, there are two requirements to ensure a settlement (or a verdict) is tax-free. The first, as mentioned before, is that there must be a physical injury (which includes illness). Without physical injury, youâre paying taxes. The second is that the injury must have been caused by a wrongful act.