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LSDefine

Simple English definitions for legal terms

privilege tax

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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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babycat
16:49
ily2 renard99
initiallaw
16:49
omg so cute
JumpySubsequentDolphin
16:51
@jackfrost11770: IM SO JEALOUS
2big2fail
16:52
perhaps peggerdine this evening
2big2fail
16:52
but then again, perhaps not
JumpySubsequentDolphin
16:53
damn no ucla wave
16:56
Hey guys! chance me 340/340GRE- 2 years work experience at PIL and wrote compelling statements. but my masters gpa is kinda 3.1 because I was domestically abused. :p
babycat
16:59
schools mostly care about your undergrad GPA
umarrussell
17:07
whats a good GRE score
1a2b3c4d26z
17:07
100% chance at getting into a law school
umarrussell
17:07
i feel like you have to score fairly high to get in with GRE
1a2b3c4d26z
17:07
isn't 340 perfect?
1a2b3c4d26z
17:08
So i feel like they're fine
shaquilleoatmeal
17:08
If one of yall can guess what I ended up gettin at sg about an hour ago I’ll Venmo the cost of the meal😂
if when i called gtown they told me "you will 100% get a decision at the end of this week." and i DO not get a decision today. how badly am i legally allowed to crash out. like i have a feeling i ain't getting anything today 😭
1a2b3c4d26z
17:09
Crash out really hard
shaquilleoatmeal
17:09
https://imgur.com/a/rRr0oeT
1a2b3c4d26z
17:09
evol style
1a2b3c4d26z
17:09
Jk dont do that
shaquilleoatmeal
17:09
Use that bowl size to guess, I’ll give you a hit, protein fuckin packed
1a2b3c4d26z
17:09
which garmin do you have?
1a2b3c4d26z
17:10
If that pic is of you
Kendrick album so good, I wasn't even focused on admissions today
oh i was just lisenting to him on the car ride hnome
awman i was hopign to come home to a ucla wave
is it too late? its 2pm there
OMG U MEAN A NEW ALBUM OMGG NOW I CAN BE DISTRACTED AGAIN
shaquilleoatmeal
17:14
Nah not a Garmin, Apple watch
We not gonna see splitterus for 4 hrs
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