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LSDefine

Simple English definitions for legal terms

tax base

Read a random definition: taxable year

A quick definition of tax base:

Term: Tax Base

Definition: Tax base refers to the total amount of property, income, or wealth that is subject to taxation in a particular area. It is the total value of all the things that are being taxed by a specific tax. For example, if a city has a property tax, the tax base would be the total value of all the properties in that city. The tax base is important because it determines how much revenue the government can collect from taxes.

A more thorough explanation:

Definition: Tax base refers to the total amount of property, income, or wealth that is subject to taxation in a particular jurisdiction. It is the aggregate value of the property being taxed by a specific tax.

Example: Let's say that a city imposes a property tax on all residential properties within its limits. The tax base for this tax would be the total value of all residential properties in the city. This includes the value of the land, buildings, and any improvements made to the property.

Another example would be an income tax. The tax base for an income tax would be the total income earned by all individuals and businesses within the jurisdiction. This includes wages, salaries, profits, and any other income sources.

These examples illustrate how tax base refers to the total amount of property, income, or wealth that is subject to taxation. It is important for governments to determine the tax base accurately to ensure that they are collecting the appropriate amount of revenue to fund public services and programs.

tax avoidance | tax-benefit rule

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medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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