fair average value

For the purpose of assessing capital stock of a corporation for excise tax, a value determined in part according to the fair net value of the assets of the corporation, not entirely by the value of the aggregate shares of the stock.

Ballentine's law dictionary. . 1998.

Look at other dictionaries:

  • average value — See fair average value …   Ballentine's law dictionary

  • fair value — For the purpose of, and as a base for, fixing the rates of a public utility:–the present value of the property of the utility as determined, not by formula, such as original cost, prudent investment, or cost of reproduction, but by consideration… …   Ballentine's law dictionary

  • fair — adj 1: characterized by honesty and justice: free from self interest, deception, injustice, or favoritism a fair and impartial tribunal 2: reasonable as a basis for exchange a fair wage a fair valuation 3: consistent with merit or importance …   Law dictionary

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