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The Uniform Gifts to Minors Act (UGMA) is an act in some states of the United States that allows assets such as securities, where the donor has given up all possession and control, to be held in the custodian's name for the benefit of the minor without an attorney needing to set up a special trust fund. This allows a minor in the United States ...
The Uniform Transfers To Minors Act (UTMA) is a uniform act drafted and recommended by the National Conference of Commissioners on Uniform State Laws in 1986, and subsequently enacted by all U.S. States, which provides a mechanism under which gifts can be made to a minor without requiring the presence of an appointed guardian for the minor, and which satisfies the Internal Revenue Service ...
"However, I like your idea. I have to tell you, I would open up a Uniform Gift to Minors Act account." Opening a UGMA account would allow Hazel, with her parents' help, to invest her earnings in ...
Planning for a child's education requires careful consideration of several factors, including asset ownership, tax implications (including FICA taxes) and financial aid eligibility. Two popular...
In 24 states, the state auditor is a constitutional officer elected by the voters or the state legislature for specified terms of office. For example, state auditors in California , Idaho , Illinois , Minnesota , Nebraska , Nevada , Pennsylvania , Texas , Utah , and Washington are elected by the voters.
The New York Stock Exchange (headquarters pictured) is the major center for listing and trading shares in United States. Most corporations are, however, incorporated under the influential Delaware General Corporation Law. United States corporate law regulates the governance, finance and power of corporations in US law.
The comptroller general of the United States is the director of the Government Accountability Office (GAO, formerly known as the General Accounting Office), a legislative-branch agency established by Congress in 1921 to ensure the fiscal and managerial accountability of the federal government.
In three states, the secretary of state is elected by the state legislature: the General Assembly of Tennessee meets in joint convention to elect the secretary of state to a four-year term, [4] and the Maine Legislature and New Hampshire General Court also select their secretaries of state, but to two-year terms. [5]