TAX or TAXES The contribution required of persons, groups, or businesses within a governmental jurisdiction for the support of governmental programs. Springtime brings a flood of questions about State taxes.

TECH-NET Tech-Net is an electronic gateway of technology information and resources for and about small high tech businesses. It is a search engine for researchers, scientists, state, federal and local government officials, a marketing tool for small firms and a potential “link” to investment opportunities for investors and other sources of capital.

TRADE NAME The term used to identify a company. Any type of business may call itself a company.

TRADEMARK Words, names, symbols or devises, or any combination of these, used to identify the goods of a business and to distinguish these goods from the goods of others.

TRANSACTION BALANCES Cash held to cover day-to-day transactions.

TREASURY BILLS – T-Bills Short term obligations of the U.S. government.

TRUE LEASE A type of transaction that qualifies as a lease under the Internal Revenue Code. It allows the lessor to claim ownership and the lessee to claim rental payments as tax deductions.

TURNOVER Turnover is the number of times that an average inventory of goods is sold during a fiscal year or some designated period. Care must be taken to ensure that the average inventory and net sales are both reduced to the same denominator; that is, divide inventory at cost into sales at cost into sales at cost or divide inventory at selling price into sales at selling price. The turnover when accurately computed, is one measure of the efficiency of a business.

T-BILLS – Treasury Bills Short term obligations of the U.S. government.