liability
Defined in 4 places across 2 titles of the United States Code.
For purposes of this subsection, the term “liability” shall include any fixed or contingent obligation to make payment, without regard to whether the obligation is otherwise taken into account for purposes of this title.
Source
- 2000–present26 U.S.C. § 358Internal Revenue Code · Basis to distributees · for purposes of this section
“liability”—
(A) means legal liability for damages (including costs of defense, legal costs and fees, and other claims expenses) because of injuries to other persons, damage to their property, or other damage or loss to such other persons resulting from or arising out of—
(i) any business (whether profit or nonprofit), trade, product, services (including professional services), premises, or operations, or
(ii) any activity of any State or local government, or any agency or political subdivision thereof; and
(B) does not include personal risk liability and an employer’s liability with respect to its employees other than legal liability under the Federal Employers’ Liability Act (45 U.S.C. 51 et seq.);
Source
- 1994–present15 U.S.C. § 3901Commerce and Trade · Definitions · as used in this chapter
The term “liability” means a liability to furnish or deliver a newspaper, magazine, or other periodical.
Source
- 1994–present26 U.S.C. § 455Internal Revenue Code · Prepaid subscription income · for purposes of this section
The term “liability” means a liability to render services or make available membership privileges over a period of time which does not exceed 36 months, which liability shall be deemed to exist ratably over the period of time that such services are required to be rendered, or that such membership privileges are required to be made available.
Source
- 1994–present26 U.S.C. § 456Internal Revenue Code · Prepaid dues income of certain membership organizations · for purposes of this section