Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

PTI

Read a random definition: rule against trusts of perpetual duration

A quick definition of PTI:

PTI stands for previously taxed income, which is money that has already been taxed by the government. Income is the money you earn from working, investing, or other sources. Gross income is the total amount you earn before any deductions or taxes are taken out, while net income is what you have left after those deductions and taxes. There are different types of income, such as earned income from working and unearned income from investments. Taxable income is what you have to pay taxes on, and there are also types of income that are exempt from taxes.

A more thorough explanation:

PTI stands for previously taxed income under INCOME. It refers to an S corporation's undistributed taxable income that was taxed to the shareholders as of the last day of the corporation's tax year. This income could usually be withdrawn later by the shareholders without tax consequences. PTI has been replaced by the accumulated adjustments account.

For example, if an S corporation had $100,000 of taxable income in a year and distributed $50,000 to its shareholders, the remaining $50,000 would be considered PTI. This means that the $50,000 was already taxed at the corporate level and would not be taxed again when the shareholders withdraw it later.

PTDL | PTO Code of Professional Responsibility

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
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
WorthlessAttractiveZombie
7:44
My berkeley paragraph finally disappeared. I definitely think it is just an indicator that they are actively reviewing files, and does not mean anything about A, WL, or Rs
WorthlessAttractiveZombie
7:46
Also has anyone's date disappeared for W&L? Mine did last night
7:55
@WorthlessAttractiveZombie: mine did yesterday morning
7:56
Oops sorry I meant Vilanova. Mine disappeared last week
soapy
8:48
UMN under review! As predicted, decisions are gonna come out early December
Minus those random R decisions from UMN yesterday though right? I wonder what happened there. I don’t think I’ve seen a school start the season out with anything but As on here
almost all of my apps have been UR for 6 weeks at this point I feel exhausted waiting for them to finish
Irvine is being snobby and wont start any review until end of Nov.
Yeah, it’s tough. I’m distracting myself by playing good video games after work :)
im distracting myself by schizo-scrolling r/lawschoolamissions and every conceivable data point on this godforsaken website
it is not working
Haaa I naturally want to do that too. I’m trying to stop. They need a surgeon general’s warning on this site for perspective law students
i spend more time on here then anything else trying to rationalize that the waves from last year will match waves for this year (they won't) and that the stats of people with the same stats are indicative of my own (they aren't)
There aren't many people in my stat range so I pretty much know every result in my range after being on here for a few years
9:28
congrats on the 172 bruce
go dawgs fr
9:29
roll tide
do we foresee a fordham election day wave today (i'm delusional)
WorthlessAttractiveZombie
9:31
I think so, Jack
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]
LSD+ is ad-free, with DMs, discounts, case briefs & more.