Gravesite Care and Maintenance [Internal Revenue] Law and Legal Definition
Pursuant to 26 CFR 1.642(i)-2 (d) [Title 26 Internal Revenue; Chapter I Internal Revenue Service, Department of the Treasury; Subchapter A Income Tax; Part 1 Income Taxes; Normal Taxes and Surtaxes; Estates, Trusts, Beneficiaries, and Decedents; Estates, Trusts, and Beneficiaries; General Rules for Taxation of Estates and Trusts], the term care and maintenance of gravesite “shall be generally defined in accordance with the definition of such term under the local law pursuant to which the cemetery perpetual care fund is created. If the applicable local law contains no definition, care and maintenance of gravesites may include the upkeep, repair and preservation of those portions of cemetery property in which gravesites (as defined in paragraph (c) of this section) have been sold; including gardening, road maintenance, water line and drain repair and other activities reasonably necessary to the preservation of cemetery property. The costs for care and maintenance include, but are not limited to, expenditures for the maintenance, repair and replacement of machinery, tools, and equipment, compensation of employees performing such work, insurance premiums, reasonable payments for employees' pension and other benefit plans, and the costs of maintaining necessary records of lot ownership, transfers and burials. However, if some of the expenditures of the cemetery corporation, such as officers' salaries, are for both care and maintenance and for other purposes, the expenditures must be properly allocated between care and maintenance of gravesites and the other purposes. Only those expenditures that are properly allocable to those portions of cemetery property in which gravesites have been sold qualify as expenditures for care and maintenance of gravesites.”
Legal Definition list
- Gravesite Care and Maintenance [Internal Revenue]
- Grave Incapacity
- Grave Doubt
- Gravamen
- Gratuitous Surety
- Gravesite Reservation
- Gravity Knife
- Gray Market
- Gray Mule Case
- Gray-Market Goods
- Great Compromise
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