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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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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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