Tax terminology dictionary

Tax terminology dictionary See INCOME TAX, CORPORATION TAX, CAPITAL GAINS TAX, WEALTH TAX, INHERITANCE TAX, VALUE-ADDED TAX, CUSTOMS DUTY, EXCISE DUTY. Adversary proceeding A lawsuit arising in or related to a bankruptcy case that begins by filing a complaint with the court, that is, a "trial" that takes place within the context of a bankruptcy case. Taxes on real estate and tangible personal property are ad valorem. Appraisal– The dollar value assigned to a person’s property by the Property Appraiser. This amount, less any exemptions, is the basis of the ad valorem portion of the tax. ODOMETER An instrument attached to a power vehicle to measure the distance traversed. Tax Glossary. Taxes help to pay for the services people (and businesses) receive from the government. . The percentage used to calculate the amount of the tax appears with the charge. Accrual Basis : The basis of accounting under which revenues are re-A branch office that is used to record value-added tax (VAT) and inventory movement. PLAYAfter pointing out the means of making a tax-list on personal property which should be more impartial than the existing list, Rabourdin assessed the sums to be brought into the treasury by indirect taxation as so much per cent on each individual share. We know that all those words that HMRC and accountants love to use are hard to understand, so we created this plain-language, helpful personal tax glossary. Each tax branch uses the same tax registration number as the head office of the legal entity. tax a levy imposed by the government on the income, wealth and capital gains of persons and businesses , on spending on goods and services (INDIRECT TAX), and on properties. This tax is a percentage of the cost of your services and appears on the local phone portion of your bill. Abatements: A term referring to the refund of previously paid prop - erty taxes due to the over-valuation of property. Term which denotes a vehicle that exceeds a state's maximum, allowable length, width, height, and/or weight. This is typically in the form of federal income tax, state income tax (depending on location), Medicare, and Social Security. Legal Dictionary. Federal Unemployment Tax: Employers are required to pay the Federal Unemployment Tax, which is used to pay for unemployment insurance. “Covered Tax Return” means a Federal (excluding non-resident), state and local tax return for the 2019 tax year that was prepared by a Jackson Hewitt Tax Service tax preparer (not applicable to “Jackson Hewitt Online”) and filed on or prior to April 15, 2020 (or June 15 if you were eligible for and received an automatic extension) or, if the filing date is properly extended, October 15, 2020, for which no …Federal tax. For example, "Federal excise tax at 3%. A term used to describe evidence that may be considered by a jury or judge in civil and criminal cases. tax liability. The legal dictionary also incorporates The People's Law Dictionary, by renowned authorities Gerald and Kathleen Hill. For each worker, the tax is set at 6 percent of the first $7,000 earned each year. All the branch offices of a VAT-registered legal entity are referred to as tax branches. Justia - Tax Glossary - Free Legal Information - Laws, Blogs, Legal Services and MoreA charge or fee that a government imposes on a citizen or business is called a tax. Ad Valorem- A Latin term meaning “according to worth,” referring to taxes levied on the basis of value. The main source of TheFreeDictionary's legal dictionary is West's Encyclopedia of American Law, Edition 2, which contains more than 4,000 entries detailing terms, concepts, events, movements, cases, and individuals significant to United States law. A government authority's legal claim to the assets of a legal entity. " Tax terminology dictionary
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