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LSDefine

Simple English definitions for legal terms

floor tax

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A quick definition of floor tax:

A floor tax is a type of tax that is imposed by the government on people, businesses, transactions, or property to generate public revenue. It is a charge that must be paid to the government. Taxes can take many forms, including duties, imposts, and excises. Taxes are used to support the government and pay for public needs. A tax can be paid in money or other forms of value. For example, a tax can be paid in goods or services.

A more thorough explanation:

A floor tax is a type of tax imposed by the government on certain goods or products that were already in stock before a tax increase went into effect. It is a one-time tax that is meant to make up for the difference in taxes paid before and after the increase.

  • If the government increases the tax on cigarettes, a floor tax may be imposed on all the cigarettes that were already in stock at stores and warehouses.
  • When the government increased the tax on alcohol, a floor tax was imposed on all the alcohol that was already in stock at bars and restaurants.

These examples illustrate how a floor tax works. The tax is imposed on goods that were already in stock before the tax increase, so businesses have to pay the difference in taxes for those products. This can be a significant cost for businesses, especially if they have a large inventory of the taxed products.

floor price | flotage

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General

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18:49
thank you my little crow friend
Dkk
18:50
Med law easy done
medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
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