Estate Tax
Estate Tax in United States Practical Information Note: Some of this information was last updated in 1982
Tax Law
Excise Taxes
Excise Taxes in United States Practical Information Note: Some of this information was last updated in 1982
Federal, state, and local taxes imposed on acts, like the sale of specific goods or services or on licenses to engage in certain activities, rather than on property. For example, […]
Customs
Customs in United States Customs Definition
This term is usually applied to those taxes which are payable upon goods and merchandise imported or exported. Story, Const. § 949; Bac. Abr. Smuggling. The duties, toll, tribute, or tariff payable upon merchandise exported or imported. […]
Federal Tax
Federal Taxation in the United States Introduction: Components of Federal Tax Law Federal tax law consists of a combination of statutory, administrative and judicial sources of law. The Internal Revenue Code, as enacted by Congress, is a compilation of the federal statutes cowering income, […]
Internal Revenue Code
Internal Revenue Code in the United States Internal Revenue Code of 1986 In the U.S. Code Platform: 26 U.S.C. § 1 : US Code – Section 1: Tax imposed. Legal Materials The Internal Revenue Code (IRC) is Title 26 of the United States Code , and the related regulations are Title 26 of the […]
State Statutes
State Statutes in the United States Technically, a "statute" is an individual law, the equivalent of a Federal "Public Law" or "Private Law," also known in many states as "Chapter Laws" or, more generally, as "Session Laws." In all states, […]
Tax Law
Tax Law in the United States Main Elements Tax Law Defined It covers the rules, policies and laws that oversee the tax process, which involves charges on estates, transactions, property, income, licenses and more by the government. Taxation also includes duties on imports from foreign […]
Exclusions
Exclusions in United States Practical Information Note: Some of this information was last updated in 1982See income (in U.S. law).(Revised by Ann De Vries) What is Exclusions? For a meaning of it, read Exclusions in the Legal Dictionary here. Browse and search more U.S. and international free […]
Gift Tax
Gift Tax in United States Practical Information Note: Some of this information was last updated in 1982A tax that applies to gratuitous transfers of property during the taxpayer’s life. The purpose of the gift tax law is to impose a tax on the donor that measurably approaches the estate tax […]
Income Tax
Income Tax in United States Practical Information Note: Some of this information was last updated in 1982A federal, state, or local tax that is levied on the income (in U.S. law) of individuals and corporations, estates, and some trusts. The federal income tax is expressly authorized by the […]
Internal Revenue Service
Internal Revenue Service in the United States Introduction to Internal Revenue Service Internal Revenue Service (IRS), agency of the U.S. Department of the Treasury, originally established in 1862, responsible for enforcing the internal revenue laws. The IRS is administered by the […]
Carryforward
Carryforward in the United States Operating Loss and Tax Credit Carryforwards Some companies have federal and state net operating loss carryforwards due to prior period losses. Federal tax credit carryforwards, which if not utilized, will begin to expire in fifteen years. Some tate tax […]
Tax
Tax in the United States Tax Definition A contribution Imposed by government on individuals for the service of the state. 13 Pa. St. 104; 115 111. 109. It is distinguished from a subsidy, as being certain and orderly. Jacob. A sum of money assessed under the authority of the state on the […]
Assessment
Assessment in the United States Assessment Definition Determining the value of a man’s property or occupation for the purpose of levying a tax. Determining the share of a tax to be paid by each individual. Laying a tax. Adjusting the shares of a contribution by several towards a common […]
Voluntary Classification Settlement Program
Voluntary Classification Settlement Program in the United States Introduction to the Voluntary Classification Settlement Program (VCSP) The Voluntary Classification Settlement Program is a program developed by the IRS that allows taxpayers to voluntarily reclassify their workers as […]
Taxation Office
Taxation Office in the United States Tax Administration Administrative Complexity New legislation places new demands on the administrative resources of the IRS and Treasury Department. The most immediate impact is felt in the task of redesigning tax forms and instructions to incorporate […]
Inheritance Taxes
Inheritance Taxes in United States Plain-English Law Inheritance Taxes as defined by Nolo’s Encyclopedia of Everyday Law (p. 437-455):Taxes levied by some states on people who inherit property (compare with estate taxes). Practical Information Note: Some of this information was last updated in […]
Taxation Definition
Taxation Definition in the United States Tax Portal in the US Encyclopedia of Law U.S. Law Dictionary Taxation Definition in the Legal Dictionary Tax Definition in the Legal Dictionary U.S. Dictionaries U.S. Definitions Complexity of Taxation Terms By Michael E. […]
Shelters
Shelters in the United States Film Tax Shelters By Schuyler M. Moore, a partner in the entertainment department of Stroock & Stroock & Lavan. He is the author of The Biz: The Basic Business, Legal and Financial Aspects of the Film Industry and Taxation of the Entertainment Industry. […]
Internal Revenue Service Organization
Internal Revenue Service Organization in the United States Introduction to Internal Revenue Service Organization The IRS is divided into three organizational levels: the national office, the regional offices, and the district offices. The national office in Washington, D.C., is responsible […]
Internal Revenue Service History
Internal Revenue Service History in the United States Internal Revenue Service Recent Developments Introduction to Internal Revenue Service History In 1997 and 1998 the IRS became the subject of dramatic congressional hearings. Several taxpayers testified that the agency had persecuted them […]
Department of Taxation and Finance
Department of Taxation and Finance in the United States New York Department of Taxation and Finance The Department of Taxation and Finance administers provisions of the Tax Law (Art. 10, 10-C, and 26) that relate to taxation of estates of decedents who established life trusts to dispose […]
State Sales Tax
State Sales Tax in the United States In general, the long-term trend has been in the last decades is a narrowing path relative to state personal income. For example, takingi in account the average sales-taxing state, the tax base equaled 51.4% of the state’s personal income in 1979, and […]
Tax Extension
Tax Extension in the United States See also the Extension Tax definition in the Law Dictionary. Tax Extension in the United States: 2011, 2012, 2013 and Beyond File Tax Extension Online How to file an Extension for Taxes IRS Extension Tax Form IRS e-File Extension Extension Tax […]
Trade or Business
Trade or Business term in the United States Trade or Business in Tax Law The term “trade or business” is an internal revenue service (IRS) term of art. At 26 U.S.C. § 7701(a)(26). It is defined as “includes the performance of the functions of a public office.” Rules of construction […]