A tax law introduced in 1993 that prohibits a publicly held corporation from taking a deduction for compensation paid to an executive in excess of $1 million per year, unless the compensation is linked to productivity.
An interim statement is a financial report of a public corporation covering only a portion of a fiscal year, typically issued quarterly to provide an update on financial performance.
Corporations created by federal, state, and local governments for specific public purposes, including education, health and hospitals, waste removal, and transportation.
