Note: The assets of a categorically eligible SNAP household ( PM 05-07-00) are exempt, unless the household receives substantial lottery or gambling winnings as a cash prize of more than $4,250 (see PM 07-04-21). If provided regularly and can be reasonably anticipated, consider a credit card company gift card exempt as an asset, but nonexempt as income. It is calculated as the difference between liquid assets and current liabilities.

A credit card company gift card, such as American Express, MasterCard, or Visa is considered as cash on hand, unless it is provided regularly and can be reasonably anticipated. Net liquid assets is a term used to define the immediate liquidity position of a company.A liquid asset is a type of asset you can easily convert. An establishment-specific gift card, such as a department store gift card, that can only be used to purchase goods and services at the establishment offering the card is exempt as an asset and exempt as income. In accounting, assets include any items or resources owned by your business, such as cash or property.Liquid funds are debts that invest in securities with a residual maturity of up to 91 days. Liquid assets or funds include things like money market instruments, cash, and marketable securities. Substantial lottery or gambling winnings is a cash prize won in a single game, before taxes or other amounts are withheld, which is equal to or greater than its asset limit of $4,250. Substantial lottery or gambling winnings is nonexempt for categorically eligible households (including SNAP households receiving TANF and SSI income) and noncategorically eligible households (see PM 07-04-21). Liquid fund is an asset that can easily be converted into cash in a small amount of time.For non-categorically eligible SNAP households, consider the State tax refund as a nonexempt asset in the month following the month of receipt. State income tax refunds are exempt for SNAP households that are categorically eligible. Not every asset you own can be categorized as a liquid asset some will be non-liquid assets, also called illiquid assets.For non-categorically eligible SNAP households that report receipt of a Federal tax return, ask the household what amount they received and subtract the refund from the total amount of assets prior to comparing to the asset limit. Federal tax refunds received after December 31, 2009 are exempt as an asset.lump sum payments (considered available starting in the month of receipt, unless exempt under Federal Law).

Consequently, the market for such resources includes many buyers and can be characterized by ease and security in the transfer of ownership. These assets include, but are not limited to: Liquid Assets Current Assets - Inventories - Prepaid Expenses As the name suggests, these assets have very high liquidity, and the marketplace for such assets has high demand and security. The following liquid assets are nonexempt and are used to determine eligibility.