Glossary • Updated 2026
Schedule L (Form 1120)
The corporate balance sheet: Line 15d total assets feeds Delaware APV math.
In detail
APV = Line 15d assets ÷ issued shares × authorized shares.
Before the federal return is due, Delaware allows estimated year-end assets.
Keep book value supportable; it sets the tax.
Where it matters
More definitions
Sources
- Cal. Rev. & Tax Code; 8 Del. C.; Wyo. Stat. Title 17; FTB/SOS glossaries