Dictionary of Law
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tax :: legal definition


Tax - n. a governmental assessment (charge) upon property value, transactions (transfers and sales), licenses granting a right and/or income. These include federal and state income taxes, county and city taxes on real property, state and/or local sales tax based on a percentage of each retail transaction, duties on imports from foreign countries, business licenses, federal tax (and some states' taxes) on the estates of persons who have died, taxes on large gifts and a state "use" tax in lieu of sales tax imposed on certain goods bought outside of the state.

See also: ad valorem capital gains estate tax franchise tax gift tax income tax unified estate and gift tax use tax and Related Law Terms ↓


Related Law Terms

abandoned property :: n. property left behind (often by a tenant) intent ... -use. See also: abandon abandonment
abandonment :: n. the act of intentionally and permanently giving ... : abandon abandoned property patent
acceleration clause :: n. a provision in a contract or promissory note th ... . See also: acceleration assumption
ad valorem :: adj. Latin for "based on value," which applies to ... per parcel. See also: property tax
adjusted basis :: n. in accounting, the original cost of an asset ad ... s taxes. See also: basis income tax
administrative law :: n. the procedures created by administrative agenci ... judge Administrative Procedure Act
administrator :: n. the person appointed by the court to handle the ... e also: administer executor probate
adultery :: n. consensual sexual relations when one of the par ... s and grist for scandal newspapers.
advancement :: n. a gift made by a person to one of his or her ch ... tate gift in contemplation of death
adverse possession :: n. a means to acquire title to land through obviou ... o: possession prescriptive easement
appeal :: 1) v. to ask a higher court to reverse the decisio ... ng, as in "he has filed an appeal."
assess :: v. to set a value on property, usually for the pur ... e place upon sale of real property.
attorney :: n. 1) an agent or someone authorized to act for an ... ialize. See also: court reciprocity
Attorney General :: n. in each state and the federal government the hi ... izenry. See also: Solicitor General
bad debt :: n. an uncollectible debt. The problem is to determ ... ust no income on which to be taxed.
bank :: n. 1) an officially chartered institution empowere ... erred to as "in bank" or "en banc."
bankruptcy :: n. a federal system of statutes and courts which p ... y proceedings trustee in bankruptcy
basis :: n. the original cost of an asset to be used to det ... ssistance. See also: adjusted basis
Bill of Rights :: n. the first ten amendments to the federal Constit ... ved to the states or to the people.
capital gains :: n. the difference between the sales price and the ... so: basis delayed exchange exchange
child custody :: n. a court's determination of which parent, relati ... pport custody divorce joint custody
child support :: n. court-ordered funds to be paid by one parent to ... ild custody divorce spousal support
comity :: n. when one court defers to the jurisdiction of an ... of cases to which comity may apply.
common property :: n. 1) real property owned by "tenants in common," ... e, like parks and national forests.
community property :: n. property and profits received by a husband and ... and distribution separate property
comparative negligence :: n. a rule of law applied in accident cases to dete ... utory negligence damages negligence
conflict of law :: n. a situation in which both state and federal law ... y arose. See also: forum preemption
constitution :: n. the fundamental, underlying document which esta ... ts common law constitutional rights
constitutional rights :: n. rights given or reserved to the people by the U ... e also: Bill of Rights constitution
consumer protection laws :: n. almost all states and the federal government ha ... rranty product liability securities
contemplation of death :: n. the anticipation of death in a relatively short ... e also: unified estate and gift tax
contingent interest :: n. an interest in real property which, according t ... ontingent remainder future interest
conversion :: n. a civil wrong (tort) in which one converts anot ... the crime of theft. See also: theft
copyright :: 1) n. the exclusive right of the author or creator ... plagiarism public domain trademark
corporation :: n. an organization formed with state governmental ... ation public corporation securities
court :: n. 1) the judge, as in "The court rules in favor o ... cost and wait of full court trials.
covenant :: 1) n. a promise in a written contract or a deed of ... o compete deed restrictive covenant
d.b.a. :: n. short for "doing business as," when a person or ... that is registered with the state.
deduction :: n. an expenditure which an income tax payer may su ... dded together, reduce the tax owed.
deficiency judgment :: n. a judgment for an amount not covered by the val ... o: foreclosure judicial foreclosure
descent :: n. the rules of inheritance established by law in ... on inheritance intestate succession
devise :: 1) v. an old-fashioned word for giving real proper ... so: bequest gift legacy remise will
devisee :: n. a person who receives a gift of real property b ... will. See also: beneficiary legatee
disbar :: v. to remove an attorney from the list of practici ... legal ethics. (See moral turpitude
discrimination :: n. unequal treatment of persons, for a reason whic ... qual rights. See also: civil rights
diversity of citizenship :: n. when opposing parties in a lawsuit are citizens ... unt in controversy exceeds $10,000.
divorce :: 1) n. the termination of a marriage by legal actio ... y separate property spousal support
dominant estate :: n. in real estate law, the property retained when ... See also: easement servient estate
double jeopardy :: n. placing someone on trial a second time for an o ... that occurred thirty years earlier.
double taxation :: n. taxation of the same property for the same purp ... it is not discriminatory or unfair.
easement :: n. the right to use the real property of another f ... rstandings at the time of creation.
eminent domain :: n. the power of a governmental entity (federal, st ... ngs. See also: condemn condemnation
equal opportunity :: 1) n. a right supposedly guaranteed by both federa ... be so. See also: affirmative action
equity :: n. 1) a venerable group of rights and procedures t ... ry enjoin equitable injunction writ
estate tax :: n. generally a federal tax on the transfer of a de ... commonly called an inheritance tax.
exchange :: 1) v. to trade or barter property, goods and/or se ... ins tax. See also: delayed exchange
executor :: n. the person appointed to administer the estate o ... sed decedent executrix probate will
exemption :: n. 1) in income taxation, a credit given for each ... l children or is a college student.
foreclosure :: n. the system by which a party who has loaned mone ... ced sale mortgage notice of default
foreclosure sale :: n. the actual forced sale of real property at a pu ... dicial sale mortgage sheriff's sale
fraud :: n. the intentional use of deceit, a trick or some ... audulent conveyance intrinsic fraud
generation skipping :: adj., adv. referring to gifts made through trusts ... to a grandchild without a gift tax.
gift :: n. the voluntary transfer of property (including m ... ift tax unified estate and gift tax
gift in contemplation of death :: n. (called a gift causa mortis by lawyers showing ... ift tax unified estate and gift tax
gift tax :: n. federal tax on large gifts. Gifts to members of ... ance in gift tax planning is vital.
goodwill :: n. the benefit of a business having a good reputat ... an unknowing buyer. See also: sale
grandfather clause :: n. 1) a clause in a statute or zoning ordinance (p ... Such laws are now unconstitutional.
gross income :: n. in calculating income tax, the income of an ind ... in net income. See also: income tax
guardian :: n. a person who has been appointed by a judge to t ... torship. See also: conservator ward
impound :: v. 1) to collect funds, in addition to installment ... cases. See also: forfeit forfeiture
income :: n. money, goods or other economic benefit received ... ernment and most state governments.
income tax :: n. a tax on an individual's net income, after dedu ... al government. See also: income tax
insurance :: n. a contract (insurance policy) in which the insu ... t clause Workers' Compensation Acts
interest :: n. 1) any and all, partial or total right to prope ... nal property real property standing
interrogatories :: n. a set of written questions to a party to a laws ... ing. See also: deposition discovery
interstate commerce :: n. commercial trade, business, movement of goods o ... and the I.C.C. may soon be history.
joint tenancy :: n. a crucial relationship in the ownership of real ... ty property tenancy in common title
judge :: 1) n. an official with the authority and responsib ... ice justice of the peace magistrate
jurisdiction :: n. the authority given by law to a court to try ca ... Superior Court Supreme Court venue
laches :: n. the legal doctrine that a legal right or claim ... , breach of contract, fraud, etc.).
land :: n. real property, real estate (and all that grows ... See also: real estate real property
law book :: n. any of numerous volumes dealing with law, inclu ... : common law law Shepardize statute
lease :: 1) n. a written agreement in which the owner of pr ... triple net lease unlawful detainer
legacy :: n. a gift of personal property or money to a benef ... o: beneficiary bequest legatee will
leverage :: 1) n. the use of borrowed money to purchase real e ... e been created by risky leveraging.
levy :: 1) v. to seize (take) property upon a writ of exec ... heriff's sale tax writ of execution
license :: 1) n. governmental permission to perform a particu ... eement. See also: licensee licensor
lien :: n. any official claim or charge against property o ... ord's lien mechanic's lien mortgage
life estate :: n. the right to use or occupy real property for on ... hter, Sadie, will own the property.
limited partnership :: n. a special type of partnership which is very com ... mited liability partner partnership
literary property :: n. the writings of an author which entitles him/he ... as copyrighted. See also: copyright
Mann Act :: n. a federal statute making it a crime to transpor ... is five years in a federal prison.
marital deduction :: n. an estate tax deduction allowed a surviving spo ... community property estate tax trust
market value :: n. the price which a seller of property would rece ... ich are often called "comparables."
merger :: n. 1) in corporate law, the joining together of tw ... and taking one, and wife the other.
mortgage :: n. a document in which the owner pledges his/her/i ... losure notice of default trust deed
negligence :: n. failure to exercise the care toward others whic ... gence per se res ipsa loquitur tort
net estate :: n. the remaining estate of a person who has died, ... alue. See also: estate tax gift tax
non-conforming use :: n. the existing use (residential, commercial, agri ... eneral plan grandfathered in zoning
non-profit corporation :: n. an organization incorporated under state laws a ... harity corporation cy pres doctrine
nuisance :: n. the unreasonable, unwarranted and/or unlawful u ... evening). See also: public nuisance
partnership :: n. a business enterprise entered into for profit w ... partnership partner silent partner
petty larceny :: n. a term used in many states for theft of a small ... emeanor in charging and sentencing.
possibility of a reverter :: n. the potential that the title to a real property ... further issue. See also: reversion
preemption :: n. the rule of law that if the federal government ... cs control may parallel each other.
premises :: n. 1) in real estate, land and the improvements on ... t). See also: real estate structure
prescription :: n. the method of acquiring an easement upon anothe ... ty. See also: prescriptive easement
pro rata :: (proh rat-ah or proh ray-tah) adj. from Latin for ... e year in which he/she holds title.
property :: n. anything that is owned by a person or entity. P ... rty real property separate property
property tax :: n. an annual governmental tax on real property or ... are made. See also: ad valorem tax
protest :: 1) v. to complain in some public way about any act ... dishonored (not paid by the bank).
public defender :: n. an elected or appointed public official (usuall ... to convicted indigents for appeals.
quitclaim deed :: n. a real property deed which transfers (conveys) ... also: convey deed grant deed title
real estate investment trust :: n. nicknamed REIT, a real estate investment organi ... its upon sale-if there is a profit.
real property :: n. 1) all land, structures, firmly attached and in ... onal property real estate reversion
recapture :: n. in income tax, the requirement that upon sale o ... capital gains. See also: income tax
reformation :: n. the correction or change of an existing documen ... neral partner sues for reformation.
regulations :: n. rules and administrative codes issued by govern ... es usually have similar procedures.
rental value :: n. the amount which would be paid for rental of si ... alimony to be paid. See also: rent
reports :: n. the published decisions of appeals courts in al ... ilable in almost all law libraries.
resale :: n. selling again, particularly at retail. 2) adj. ... ction of sales tax on retail sales.
robbery :: n. 1) the direct taking of property (including mon ... We've been robbed." See also: theft
royalty :: n. a percentage of gross or net profit or a fixed ... also: copyright infringement patent
seal :: n. a device which creates an impression upon paper ... e "sealed," but that is rare today.
seduction :: n. the use of charm, salesmanship, promises, gifts ... ry breach of promise date rape rape
seized :: (seised) n. 1) having ownership, commonly used in ... by force. See also: seisin seizure
self-defense :: n. the use of reasonable force to protect oneself ... ndalism. See also: assault homicide
sentence :: 1) n. the punishment given to a person convicted o ... ence restitution suspended sentence
separate property :: n. in community property states (California, Texas ... pouse. See also: community property
servient estate :: n. real property which has an easement or other us ... See also: dominant estate easement
sheriff :: n. the top law enforcement officer for a county, u ... ." See also: bailiff sheriff's sale
sheriff's sale :: n. an auction sale of property held by the sheriff ... so: execution forced sale levy writ
spot zoning :: n. a provision in a general plan which benefits a ... . See also: grandfathered in zoning
spousal support :: n. payment for support of an ex-spouse (or a spous ... but two. See also: alimony divorce
standing :: n. the right to file a lawsuit or file a petition ... so: actual controversy jurisdiction
statute of limitations :: n. a law which sets the maximum period which one c ... ies. See also: demurrer laches toll
Supreme Court :: n. 1) the highest court in the United States, whic ... rt in other states. See also: court
Tax Court :: n. a federal agency with courts in major cities wh ... Appeals. See also: court income tax
tenancy by the entirety :: n. joint ownership of title by husband and wife, i ... ee also: community property tenancy
theft :: n. the generic term for all crimes in which a pers ... rglary embezzlement larceny robbery
title report :: n. the written analysis of the status of title to ... lso: abstract title title insurance
trespass :: n. entering another person's property without perm ... for an illegal purpose is a crime.
unified estate and gift tax :: n. in federal estate taxes, the value of the estat ... turn. See also: estate tax gift tax
use :: n. the right to enjoy the benefits of real propert ... ay it is only of academic interest.
use tax :: n. a state tax on goods purchased in another state ... e" tax equivalent to its sales tax.
will :: n. a written document which leaves the estate of t ... will and testament probate testator

Popular Law Searches

legal definition ministerial act :: n. an act, particularly of a governmental employee ... exercising any individual judgment.
chancery legal definition :: n. a court that can order acts performed. Today ch ... ts in most states. See also: equity
testamentary disposition legal definition :: n. how the terms of a will divide the testator's ( ... named beneficiaries. See also: will
contract of sufferance :: n. a "hold-over" tenancy after a lease has expired ... y tenancy at will unlawful detainer
forthwith legal definition :: adv. a term found in contracts, court orders and s ... mediacy, with no excuses for delay.
forthwith definition legal :: adv. a term found in contracts, court orders and s ... mediacy, with no excuses for delay.
what is to wit in a legal contract :: prep. that is to say. Example: "the passengers in ... tty Bumgartner and Sherry Younger."
mirror wills legal definition :: n. the wills of a husband and wife which are ident ... d each names the other as executor.
clean hands doctrine latin :: n. a rule of law that a person coming to court wit ... ices. See also: affirmative defense
sine qua non only relates to contract law :: (see-nay kwah nahn) prep. Latin for "without which ... qua non of the injury to Playmate.

Other Law Terms - T

T.R.O. :: n. legal slang for temporary restraining order. Se ... order. See also: restraining order
tainted evidence :: n. in a criminal trial, information which has been ... e search and seizure search warrant
take :: v. to gain or obtain possession, including the rec ... eal property or stealing an object.
taking the Fifth :: n. the refusal to testify on the ground that the t ... ifth." See also: self-incrimination
tangible property :: n. physical articles (things) as distinguished fro ... operty personal property personalty
tax :: n. a governmental assessment (charge) upon propert ... unified estate and gift tax use tax
tax costs :: n. a motion to contest a claim for court costs sub ... sts" to avoid paying these charges.
Tax Court :: n. a federal agency with courts in major cities wh ... Appeals. See also: court income tax
tax evasion :: n. intentional and fraudulent attempt to escape pa ... o reduce the amount of payable tax.
tax return :: n. the form to be filed with a taxing authority by ... able to the taxpayer. See also: tax
tax sale :: n. an auction sale of a taxpayer's property conduc ... government to collect unpaid taxes.
temporary injunction :: n. a court order prohibiting an action by a party ... ry injunction. See also: injunction
temporary insanity :: n. in a criminal prosecution, a defense by the acc ... diminished capacity insanity intent
tenancy :: n. the right to occupy real property permanently, ... rety tenancy in common tenant title
tenancy at sufferance :: n. a "hold-over" tenancy after a lease has expired ... y tenancy at will unlawful detainer
tenancy at will :: n. occupation of real property owned by another un ... right to occupy. See also: tenancy
tenancy by the entirety :: n. joint ownership of title by husband and wife, i ... ee also: community property tenancy
tenancy in common :: n. title to property (usually real property, but i ... on. See also: joint tenancy tenancy
tenant :: n. a person who occupies real property owned by an ... rental payments. See also: tenancy
tender :: 1) v. to present to another person an unconditiona ... he tender. See also: delivery offer