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LSDefine

Simple English definitions for legal terms

taxation

Read a random definition: eligible

A quick definition of taxation:

Taxation: Taxation is when the government collects money from people and businesses to pay for things like schools, roads, and hospitals. Sometimes, the same thing or person can be taxed twice, which is called double taxation. However, there are rules to make sure that everyone is taxed fairly and equally. Some types of businesses, like partnerships and S corporations, are taxed differently than others, and the owners of those businesses have to pay taxes on the money the business makes instead of the business itself.

A more thorough explanation:

Definition: Taxation is the process of imposing or assessing a tax, which is a fee charged by the government to individuals or businesses to fund public services and activities.

Examples:

  • Double taxation: This occurs when the same property or corporate profit is taxed twice by the government during the same period and for the same purpose. For example, if a person owns a rental property, they may have to pay property tax on it as well as income tax on the rental income they receive from it.
  • Equal and uniform taxation: This is a tax system in which everyone in the same district is taxed at the same rate on the same value or thing. For instance, if a city imposes a sales tax of 5%, everyone who buys something in that city will pay the same 5% tax rate.
  • Pass-through taxation: This is a tax system in which the owners of a business are taxed for the business's income without the business itself being taxed. For example, if a person owns a partnership or an S corporation, they will be taxed on their share of the business's income, but the business itself will not be taxed.

The examples illustrate how taxation works in different situations. Double taxation shows how the same property or income can be taxed twice, which can be a burden for taxpayers. Equal and uniform taxation ensures that everyone pays the same tax rate, which can be fairer than a system that taxes some people more than others. Pass-through taxation allows business owners to be taxed for their share of the business's income without the business itself being taxed, which can be beneficial for small businesses.

tax assessor | taxation of costs

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11:12
@BulbasaurNoLikeCardio: honestly fuck these schools
11:12
The way they act is so cringe and gives mad ick
babycat
11:12
@BulbasaurNoLikeCardio: people are saying this has been a pattern with them
babycat
11:12
imagine being a religious school and not supporting mothers. practice what you preach!
11:12
Fuck dem hoes
11:13
Child bearing people*
11:13
i cant spell fuck dont correct me
11:15
Anywayyyyy, i think today i will withdraw all my apps
11:15
This lsat is not doing it
babycat
11:15
lol live ur truth
11:15
ASU at 154 is damn good
11:15
154 scholly
BulbasaurNoLikeCardio
11:15
It is shitty that was a pattern of behavior but I am glad someone is finally standing up for themselves. Like I can be a pretty rigid butthole guy when it comes to getting stuff but a complete lack of empathy or situational awareness shown by the school and their staff is mind blowing. When I was talking about it in the office they all thought I was lying cause it sounds so crazy.
Dkk
11:16
@babycat: ahh link me something. Idk what you are talking about with GTown and mothers and all that.
11:16
Idk if any of you watch UFC but one time interim heavyweight champ Tom Aspinall won a fight and said on the mic afterwards “if you feel scared to do something, that’s a pretty good sign you should just go fucking do it” and I believe that applies very much to people wondering if they should R&R. Sure you can but why not just see what happens now?
babycat
11:16
School fucked up so bad they got hellwoods to sign a petition
11:16
Ive also heard their career center is awful too, I think its why it will never be anything but 14-15
JumpySubsequentDolphin
11:17
@Dkk: i think a law student was pregnant and due to give birth a few days before finals and they refused to accomodate her
JumpySubsequentDolphin
11:17
accommodate*
11:17
@Mostlylegal: yeah and i was thinking fuck it just go party for three years but i got other options and need to start building, top law schools were worth that 3 year pause but i am not sure i can do that for asu and their outcomes
11:19
Also I just got diagnosed with ADHD is it stupid if I dont take the test again now that Im medicated?
Dkk
11:19
She offered to take it early? Should have given her that one. Remote I can understand saying no to but taking it early, yes.
babycat
11:20
big things coming for babycat. I own a resistance band now
concorde
11:20
@renard99: jones needs to take this advice and fight aspinall
11:21
is that what they are calling punk rock bands these days?
BulbasaurNoLikeCardio
11:21
@babycat: did you get a booboo or just trying to do more workouts at home?
11:21
@Mostlylegal: I jumped six points after beginning adhd meds. Might be worth it
Dkk
11:22
Just an hour and 38 minutes left before I can ask Kayle in LSAT Demon to marry me. I take these AMA's seriously.
11:22
@concorde: “I will retire Jon Jones without even fighting him” hardest thing anyone in the UFC ever said
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