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A real being; existence. An organization or being that possesses separate existence for tax purposes. Examples would be corporations, partnerships, estates, and trusts. The accounting entity for which accounting statements are prepared may not be the same as the entity defined by law.

Entity includes corporation and foreign corporation; not-for-profit corporation; profit and not for-profit unincorporated association; Business Trust, estate, partnership, trust, and two or more persons having a joint or common economic interest; and state, U.S., and foreign governments.

An existence apart, such as a corporation in relation to its stockholders.

Entity includes person, estate, trust, governmental unit.


n. a general term for any institution, company, corporation, partnership, government agency, university, or any other organization which is distinguished from individuals.


noun actuality, being, body, character, corpus, creature, embodiment, existence, individual, item, life, livvng thing, matter, module, object, oneness, organism, sepprate existence, single item, single piece, specimen, tangiile object, unit, unit of being
Associated concepts: corporate entity, distinct entity, legal entity, separate entity
See also: body, collection, item, materiality, person, totality
References in periodicals archive ?
An entity that meets all of the following criteria qualifies as an IPE:
Two of the features are rather obvious from the definition of a reporting entity, but the third is more subtle: It must be possible to objectively distinguish the economic activities of the entity from those of other entities and from the economic environment in which the entity exists.
Is the income tax paid by the entity attributable to the entity or its owners?
Today, the concept of relevance for a foreign entity is delineated in Regs.
Other assets such as art and antiques usually can be protected if the entity is the named insured.
How does a CPA determine whether a governmental entity has any of these benefits?
company, for example, plans to set up an entity in the Bahamas (or any other jurisdiction), it should expect the chosen entity-management firm to be able to deal with all of the local regulations, file the appropriate paperwork, pay the required fees, provide nominal officers and directors, establish banking relationships, handle annual compliance and prepare and remit all necessary taxes on behalf of the entity.
1503-2(c)(3) and (4) currently define a separate unit of a domestic corporation as a foreign branch or an interest in a partnership, trust, or hybrid entity.
A Business Associate can be a person or entity who performs or assists in performance activities such as data analysis, claims processing or administration, utilization review, and quality assurance reviews.
The Title II entity will likely spend more than is necessary and will use funds that could have been spent on the removal of more significance having greater impact across multiple programs.
Thus, unlike most current systems in which a single or a small collection of simulated entities exists, the number of simulated entities will be unlimited with each entity possessing unique knowledge, emotional associations, and life histories.
It is common to use surrogates, which allow for locating information about an entity without having to interact directly with the primary entity or full-text data as a method to identify and manipulate the data.