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LSDefine

Simple English definitions for legal terms

ratable

Read a random definition: official misconduct

A quick definition of ratable:

Definition: Ratable means a fair and equal portion of something that needs to be divided or appraised. For example, when selling stocks, the ratable share of the amount that would have been a dividend at the time of distribution is exempt from taxation. In the context of a corporate entity wind-up, any member who has contributed more than their fair share can recover their proportionate share of the surplus contribution.

A more thorough explanation:

Ratable: An amount that can be appraised or apportioned.

1. The Internal Revenue Code § 306 exempts the "ratable share" of the value of a stock from being taxed as income. This means that the amount of the stock's value that would have been attributed to dividend distributions at the time of sale is not taxed.

2. In the context of a corporate entity's wind-up, the California Corporate Code § 8721 allows a member to recover their "ratable share" of the surplus contribution. This means that if an investor contributed more than their proportionate share of the corporation's liabilities, they can receive their share of the surplus contribution.

The term "ratable" refers to an amount that can be divided or apportioned among different parties. In the first example, the Internal Revenue Code exempts the "ratable share" of a stock's value from being taxed. This means that the amount of the stock's value that would have been attributed to dividend distributions is divided among the shareholders and is not taxed as income. In the second example, the California Corporate Code allows a member to recover their "ratable share" of the surplus contribution. This means that the amount of the surplus contribution is divided among the members in proportion to their contributions, ensuring that each member receives a fair share of the assets.

Rape | ratification

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THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
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