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LSDefine

Simple English definitions for legal terms

succession tax

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A quick definition of succession tax:

Succession Tax: A tax that is paid when someone inherits money or property from someone who has passed away. It is a way for the government to collect money from the transfer of wealth between generations. Taxes are charges that the government imposes on people, businesses, transactions, or property to raise money for public needs. They can be paid in different forms, not just money.

A more thorough explanation:

A succession tax is a type of tax that is imposed on the transfer of property or assets from a deceased person to their heirs or beneficiaries. It is also known as an inheritance tax.

For example, if a person passes away and leaves behind a large estate, their heirs may be required to pay a succession tax on the value of the assets they inherit. The amount of tax owed will depend on the value of the estate and the tax laws in the jurisdiction where the deceased person lived.

Succession taxes are a way for governments to generate revenue and can be used to fund public services and programs. However, they can also be controversial, as some people argue that they unfairly penalize individuals who have worked hard to accumulate wealth and want to pass it on to their loved ones.

succession duty | successio praedilecta

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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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