Legal definition of tax

How are taxes defined? What are legal deductions? Is the income tax legal? Are legal fees taxable? A tax is a compulsory financial charge or some other type of levy imposed upon a taxpayer by a governmental organization in order to fund various public expenditures.

A failure to pay, along with evasion of or resistance to taxation, is punishable by law.

Taxes consist of direct or indirect taxes and may be paid in money or as its labour equivalent. Most countries have a tax system in place to pay for public, common. Excise Tax An excise tax is directly imposed by the law-making body of a government on merchandise, products, or certain types of transactions, including carrying on a profession or business, obtaining a license, or transferring property.

Tax definition is - a charge usually of money imposed by authority on persons or property for public purposes. The form that the government requires a taxpayer to file with the appropriate official by a designated date to disclose and detail income subject to taxation and eligibility for deductions and exemptions, along with a remittance of the tax due or a claim for a refund of taxes that were overpaid. The federal and state governments specify.

Use Tax : A charge imposed on the use or possession of Personal Property. Governments employ use taxes to accomplish two purposes.

A use tax may be imposed to prevent someone from evading a sales tax by buying goods in a nontaxing state and shipping them into the state that imposes the sales tax. Use taxes are also used to help defray the cost. Tax definition, a sum of money demanded by a government for its support or for specific facilities or services , levied upon incomes , property , sales , etc. A state or local-level tax on the retail sale of specified property or services. It is a percentage of the cost of such.

Tax Administration Law and Legal Definition. The term tax administration means: a. Free for Simple Tax Returns. Maximum Refund Guaranteed.

Tax treaties and case law in U. Tax Court and other federal courts constitute the remainder of tax law in the United States. According to this definition , for example, income tax is direct, and sales tax is indirect. In law , the terms may have different meanings. The legal definition of Tax is A payment to a public authority, required by statute, for a public purpose. Get Legal Help Understanding Common Tax Terms.

Learning the vocabulary of tax claims is just one small part of the enormous system of tax laws that can come into play when you have a tax issue. Professional assistance is often necessary since, even within the legal community, tax issues are acknowledged as particularly complicated.

Tax definition , a sum of money demanded by a government for its support or for specific facilities or services, levied upon incomes, property, sales, etc. Taxation , imposition of compulsory levies on individuals or entities by governments. Taxes are levied in almost every country of the worl primarily to raise revenue for government expenditures, although they serve other purposes as well.

Learn more about taxation in this article. Payments made by an employer with respect to a deceased employee except as provided for in § 211.