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LSDefine

Simple English definitions for legal terms

privilege tax

Read a random definition: Chapter 7 bankruptcy

A quick definition of privilege tax:

A privilege tax is a type of tax that the government charges people, businesses, or property to make money for public needs. It can be a charge on things like jobs, activities, or special events. Even though we usually think of taxes as being paid with money, they can also be paid in other ways. For example, if you have to do something extra to follow a law, that can be a type of tax too.

A more thorough explanation:

A privilege tax is a type of tax imposed by the government on individuals, entities, transactions, or property to generate public revenue. It is a monetary charge that can be levied on various things, including privileges, occupations, and enjoyment of the people. The tax can be in the form of duties, imposts, and excises, and it is not necessarily payable in money.

  • Accrued tax: This is a tax that has been incurred but not yet paid or payable.
  • Accumulated-earnings tax: This is a penalty tax imposed on a corporation that has retained its earnings to avoid income-tax liability arising once the earnings are distributed to shareholders as dividends.
  • Admission tax: This is a tax imposed as part of the price of being admitted to a particular event.

These examples illustrate how privilege taxes can be imposed on different things, such as income, property, and events. The accrued tax is a tax that has been incurred but not yet paid, while the accumulated-earnings tax is a penalty tax imposed on corporations that retain their earnings. The admission tax is a tax imposed on individuals attending a particular event. All these taxes are forms of privilege taxes that generate public revenue.

Privileges or Immunities Clause | privilegium

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9:31
some people hate him. some people love him, but he a real one: https://youtu.be/w5oEqiVQcF4?t=173
9:32
[kevin oleary]
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
WorthlessAttractiveZombie
9:34
I mean if Fordham doesn't release today I will purposefully get on a train, go to new york, and then take the stinkiest shit inside the admission office's toilet (potentially clogging it and forcing them to get a plumber)
IS IT ONLY ON MY END WHY DID THAT SEND TEN MILLION TIMES
HELLO
WorthlessAttractiveZombie
9:35
it sent a million times lol
WHAT HAPPENED
yeah i thought you were tweaking for a second
i'm so sorry everyone what the actual fuck this website hates me
WorthlessAttractiveZombie
9:35
Jack's just tweaking on LSD no biggie
to be fair this accurately represents my mental state
election day psychosis coming in hot (fordham)
usc pls pull through .....
i literally just need one A so i can relax before my ED decision
WorthlessAttractiveZombie
9:38
oh that's right USC might release
soapy
9:43
USC still has not looked at my app
WorthlessAttractiveZombie
9:43
when did you submit soapy?
soapy
9:44
10/16
WorthlessAttractiveZombie
9:44
to be fair it took them almost 2 months for me to go under review
soapy
9:44
Feelin a bit stressed, as I've got no date change for Michigan either despite applying 10/7
WorthlessAttractiveZombie
9:45
I have not had a date change either for Mich but I've seen people get in without one so who knows
I applied 9/25 to like 6 schools and some (Houston) have no date change yet so dw
soapy
9:46
But do people get in without addresses going long?
WorthlessAttractiveZombie
9:46
it's tough to tell because a lot of people type out their addresses long to begin with
soapy
9:46
Ah. I didn't. Looking back, my Mich supplement kind of sucks, so there's that
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