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LSDefine

Simple English definitions for legal terms

tax situs

Read a random definition: irregular indorsement

A quick definition of tax situs:

Term: TAX SITUS

Definition: Tax situs refers to the place or jurisdiction that has a strong connection with assets that are being taxed. This means that the state or country where the assets are located or where they were earned may have the right to tax them.

A more thorough explanation:

Definition: Tax situs refers to a state or jurisdiction that has a significant connection with assets that are subject to taxation.

Examples:

  • If you own a house in California, but you live in New York, California is the tax situs for that property. This means that California has the right to tax the property, even though you don't live there.
  • If you own a business that operates in multiple states, each state where the business operates is a tax situs. This means that the business may be subject to taxes in each of those states.

These examples illustrate how tax situs works. Even if you don't live in a state or jurisdiction, if you own property or operate a business there, that state or jurisdiction has the right to tax those assets. This is important to understand if you own property or operate a business in multiple states, as you may be subject to taxes in each of those states.

tax-sheltered annuity | tax-straddle rule

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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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