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105This page intentionally left blank.106Resource Allocation Plan FY 2010107Gann Limit Authorized Staffing ff & Salary Ranges Budget Resolution Gain Limit Resolution $13,901,328 Gain Limit Schedules
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The Gann Limit refers to a financial constraint used to track and limit the amount of net gifts or transfers an individual can make without incurring gift tax liabilities.
Individuals who make taxable gifts that exceed the annual exclusion amount are required to file the Gann Limit.
To fill out the Gann Limit, individuals must complete the appropriate tax forms, providing information about the donor, the recipient, and the amounts of the gifts made during the tax year.
The purpose of the Gann Limit is to monitor and regulate the amount individuals can transfer as gifts without facing gift taxes, ensuring compliance with tax laws.
The Gann Limit must report information such as the donor's name, the recipient's name, the date of each gift, and the value of each gift made during the reporting period.
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