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LSDefine

Simple English definitions for legal terms

tax situs

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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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JumpySubsequentDolphin
11:16
I told my family I won’t get any decisions until 2025 so they wouldn’t bombard me hahah
no i think there should be a Law School combine with all new drills except there is still the 40 yard dash
and a sub 4.5 gets you into any t14
LSAT can be one of the drills
letsseehowitgoesnow
11:17
so washu only called one person
So all the D1 athletes will get into a T-14. What else is new?
@TheAdoptedOne: that is called "Dean Poker Night" lol
@ClockworkBlue: I feel like most people could train for the 40 for the same amount of time as they do the LSAT and get close to sub 5 which would be equivalent to a 167+
this is like the schizophrenic posts JJK tik tok be putting out
powerscaling Law School deans up next
11:19
Election Day election day
Write in Dean Z vote
11:20
Saw a guy that wrote in Biden and he said no retirement for you buddy
1a2b3c4d26z
11:20
@ClockworkBlue: god I hope that's true
if the country was run the same as Mich Law it would be a better place
Imagine if election night was run by an adcom? Like, "yep, we could get the results Friday, or June 2025."
imagine if it was like Berkley applications
1a2b3c4d26z
11:22
Election status: Complete
1a2b3c4d26z
11:22
For months
triplethread
11:23
erection day
soapy
11:23
Shoutout to Robinhood's election bet not resolving until January
triplethread
11:23
is anyone else like certain that trump will win
ambitiouslizard
11:23
he aint winning
triplethread
11:23
i like being a pessimist
ambitiouslizard
11:24
he lost his re-election, why would he win this one?
1a2b3c4d26z
11:25
I have no idea why people have so much beef w berkeley's app
I've been reading a bit about "herding," which is this idea that pollsters are making the race look tied so they look right no matter who wins.
1a2b3c4d26z
11:26
Like... it's a more involved app but you don't have to do it? They're clearly trying to have some self-selection go on
I 100% agree with the self selection, I also am not even close to touching the medians there. However I think the huge PS plus the video and especially the very specific criteria for the why Berkeley essay is pretty crazy
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