There will almost certainly have an obligation to make substantial termination payments.
Since the taxpayer had a nil adjusted cost basis in the contract, the amount of the termination payment was a capital gain.
Even after the last quarterly payment there was a termination payment of £250.
If you end a car leasing agreement early, you'll generally have to make a termination payment to your leasing company.
The leasing company can choose to treat both the termination payment and the rebate as either:
This is because the termination payment isn't a rental charge.
There were provisions for making a termination payment to officers who were mustered out, but salaries would no longer be paid.
Epstein said the player asked the Yankees for the termination payment as well, but they refused to give it to him.
Cushioning the loss to the companies are termination payments that analysts estimated could be as much as $2 billion.
If a payment is a termination payment, its tax treatment is even more uncertain.