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Simple English definitions for legal terms

tax-free

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A quick definition of tax-free:

Tax-free means that something is not subject to taxation by law. This can refer to a charity or other organization that is exempt from paying taxes, or to an investment such as municipal bonds that does not require the investor to pay income tax on the interest earned. Essentially, tax-free means that no taxes need to be paid on a particular item or income.

A more thorough explanation:

TAX-FREE

Tax-free means that something is not subject to taxation by law. It can also refer to interest earned on investments that is not subject to income tax.

A tax-exempt charity is an organization that is not required to pay taxes on the money it receives from donations.
Tax-exempt municipal bonds are investments that pay interest that is not subject to income tax.

These examples illustrate that tax-free means that something is exempt from taxation. In the case of a tax-exempt charity, it means that the organization does not have to pay taxes on the money it receives. In the case of tax-exempt municipal bonds, it means that the interest earned on the investment is not subject to income tax.

tax foreclosure | tax-free exchange

General

General chat about the legal profession.

General >T14 Off Topic

👍 Chat vibe: 0 👎

TenFiftyILuvUGang

9:06

someone will have made it on reddit by the end of the day

180letmein

9:21

Brooo that shit different

180letmein

9:21

How'd Harvard drop so far

180letmein

9:22

CLS doesn't deserve to be in the T14s with the way they're acting these days ngl

180letmein

9:22

But that's just my opinion

babycakes

9:33

Harvard was like 4 and it dropped to 6. Not that crazy

babycakes

9:34

It has been benefiting from a presumption of prestige for a while

180letmein

9:35

True true

180letmein

9:35

I feel like the expectation is that Harvard will always be the top

TenFiftyILuvUGang

9:40

anxiety by doechi gotta be the worst song of the year no cap

TenFiftyILuvUGang

9:40

downright atrocious

HardHittingTraderDog

9:41

@180letmein and yet they dropped to 6... reputationally the brand is valuable...Law-School-wise - not nearly as valuable as they used to be...

HardHittingTraderDog

9:41

also agree with you on Columbia

HardHittingTraderDog

9:41

no offense to anyone going

TenFiftyILuvUGang

9:41

i forget the methodology they use but it could be the huge class sizes that make harvard drop

HardHittingTraderDog

9:42

its a number of factors... Spivey Consulting had the closest gues to these results. It was impressive.

HardHittingTraderDog

9:42

This year they added a newer 'outcomes' factor.

TenFiftyILuvUGang

9:43

cornell at 18 doesnt make sense to me

TenFiftyILuvUGang

9:45

is there really an argument that cornell and unc are the same rank

TenFiftyILuvUGang

9:46

cornell has 1% less clerkships than unc but 52% more BL outcomes

TenFiftyILuvUGang

9:47

cornell higher bar passage and way harder to get into

TenFiftyILuvUGang

9:47

2+2 is 4 minus 1 thats 3 quick maths

TenFiftyILuvUGang

9:47

everyday mans on the block

TenFiftyILuvUGang

9:47

smoke trees

180letmein

9:49

Hahahaha

180letmein

9:50

I mean we all the know the rankings are based off dumb factors

180letmein

9:50

Michigan and Chicago will always be #1 in my heart

180letmein

9:50

What do ya'll think medians are gonna look like for next cycle. Kind of scared for my life rn.

TenFiftyILuvUGang

9:52

slightly higher than now

TenFiftyILuvUGang

9:53

prob a little more hellish than this cycle

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