Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

legacy duty

Read a random definition: civil impediment

A quick definition of legacy duty:

Legacy duty is a type of tax that the government charges on things that are passed down to someone after a person dies. Taxes are charges that the government collects from people, businesses, or things to get money for public needs. Taxes can be paid in different ways, not just with money. For example, admission tax is a tax that you pay when you go to a special event. Accrued tax is a tax that you owe but haven't paid yet. Accumulated-earnings tax is a penalty tax that a company has to pay if it keeps its profits instead of giving them to shareholders as dividends.

A more thorough explanation:

Legacy duty is a type of tax that is imposed by the government on the property or assets that are inherited by someone after the death of the original owner. It is also known as legacy tax.

For example, if a person inherits a house or a sum of money from their deceased relative, they may have to pay a legacy duty on the value of the property or money they received.

Legacy duty is a form of taxation that is designed to generate public revenue for the government. It is one of the many types of taxes that the government imposes on individuals, entities, transactions, or property to generate revenue.

Other examples of taxes include income tax, sales tax, property tax, and excise tax. These taxes are all designed to generate revenue for the government and are imposed on different types of transactions or property.

legable | legacy tax

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
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.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
LSD+ is ad-free, with DMs, discounts, case briefs & more.