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Simple English definitions for legal terms

tax lease

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A quick definition of tax lease:

A tax lease is a type of contract where someone who owns property lets someone else use it in exchange for money. The person using the property pays rent and can use it for a certain amount of time. There are many different types of leases, like ones for businesses or for mining. Sometimes, a lease can be transferred to someone else. A tax lease is also called a leveraged lease.

A more thorough explanation:

Definition: A tax lease is a type of leveraged lease used by businesses to finance the purchase of capital equipment. The lessor (usually a financial institution) provides nonrecourse financing to the lessee, who has substantial leverage in the property. The lease is collateral for the loan through which the lessor acquired the leased asset, and that provides the lender's only recourse for nonpayment of the debt. The lessee pays maintenance costs and taxes and has the option of purchasing the asset at lease-end for a nominal price.

Example: ABC Company wants to purchase a new machine for their manufacturing plant but cannot afford to pay for it upfront. They enter into a tax lease agreement with XYZ Bank, who purchases the machine and leases it to ABC Company. ABC Company pays monthly lease payments to XYZ Bank and is responsible for maintenance costs and taxes. At the end of the lease term, ABC Company has the option to purchase the machine for a nominal price.

Explanation: The example illustrates how a tax lease allows a business to finance the purchase of expensive capital equipment without having to pay for it upfront. The lessor (XYZ Bank) provides financing to the lessee (ABC Company) and takes ownership of the asset, which serves as collateral for the loan. The lessee pays monthly lease payments and is responsible for maintenance costs and taxes. At the end of the lease term, the lessee has the option to purchase the asset for a nominal price.

tax law | tax levy

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JumpySubsequentDolphin
23:52
☹️
it's like p much impossible to get in if you don't do it according to the deans lol
like i mean it's probs possible but. very rare
JumpySubsequentDolphin
23:52
SO WHY DO THEY CALL IT
JumpySubsequentDolphin
23:52
OPTIONAL
mind games
JumpySubsequentDolphin
23:52
WHY DO SCHOOLS DO THIS
JumpySubsequentDolphin
23:52
the illusion of chocoe
JumpySubsequentDolphin
23:52
chocoe
JumpySubsequentDolphin
23:52
choice
there's an infamous dude on reddit who literally got into every t14 like HYS but got WL at northwestern and he's like it's definitely because he didn't do the interview lol
and he had like 180 lol
JumpySubsequentDolphin
23:59
maybe YP?
Dkk
2:22
@jackfrost11770: "do the northwestern thing" ? very sad.
Dkk
2:23
@jackfrost11770: that'smy Army buddy who got rejected from NW.
Dkk
2:24
He did not have 180. 170.
Dkk
2:25
Northwestern is an Ohio trainwreck and the staff there should consider the gun,
4:18
^ HAHAHAHA
4:19
Jackfrost has a point though, a good way to stand out with your apps is to do as much "optional" stuff as possible, including the interview
4:20
This goes for NU's Kira as much as it does, for example, ASU's 1-minute "elevator pitch" video
Dkk
4:22
Indeed indeed @renard
Dkk
4:36
Man my butthole is on fire from that Carolina Reaper. 1:36 AM fire farts.
6:18
^is this satire? wtf this is really poorly written lmao
[] baddestbunny
9:49
when someone describes something as "classic LSAT Demon" I tend to assume that is code for "this thing sucks"
Dkk
10:29
I dont know.
Dkk
10:29
I dont know.
[] baddestbunny
10:30
Defining “postmodernism” is a daunting task. One commentator has likened it to “trying to nail gelatin to a wall.” Part of the difficulty is postmodernism’s heterogeneity. As Angela Harris has noted, “There are as many different definitions of postmodernism as there are postmodernists.”
Dkk
10:36
Indeed, indeed!
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