wex definitions

unearned income

Definition from Nolo’s Plain-English Law DictionaryIncome from investments, such as interest, dividends, or capital gains, or any other income that isn't compensation for services.

Definition provided by Nolo’s Plain-English Law Dictionary.

unemployment insurance (UI)

Unemployment insurance is a system of cooperative federalism, in which each state receives federal funds to reimburse its costs of administering the program, and employers receive federal tax credit for unemployment insurance tax they pay....

unenforceable

Description for a contract that will not be enforced by a court even though it is valid. An unenforceable contract provision is not void, and if the parties perform as stated in the contract, the court will not object. However, because of reasons...

unified estate and gift tax

Unified estate and gift tax refers to the tax system which combined the applicable exclusion amount and other parts of estate and gift taxes by the 2010 Tax Relief Act. Prior to this bill, estate and gift taxes received different individual...

Uniform Anatomical Gift Act

Originally enacted in 1968, the Uniform Anatomical Gift Act is a federal framework that sets how anatomical gifts can be made. Every state has enacted the provisions of the act in some form. The act allows a decedent or surviving relatives to...

Uniform Child Custody Jurisdiction and Enforcement Act

See: Uniform Child Custody Jurisdiction and Enforcement Act (UCCJEA)

Uniform Child Custody Jurisdiction and Enforcement Act (UCCJEA)

A uniform act that, as of September 11, 2009, has been adopted by every state except Massachusetts and Vermont and is the vehicle through which foreign child custody judgments are enforced. The act is designed to prevent jurisdictional forum shopping...

Uniform Code of Military Justice

A federal code governing the conduct and trial procedures for U.S. military personnel. See 10 U.S.C. Ch. 47.

Uniform Commercial Code

A uniform code governing commercial transactions that has been adopted in some form by every state as well as by the District of Columbia. It includes sections pertaining to sales and leases of goods, negotiable instruments, and secured transactions...

Uniform Gifts to Minors Act (UGMA)

The Uniform Gifts to Minors Act (UGMA) allows money and financial securities to be transferred to minors through a UGMA account and is allowed in all states. UGMA allows the property to be gifted to a minor without establishing a formal trust...

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