All taxes

All taxes

What does All taxes mean in American Law?

The definition of All taxes in the law of the United States, as defined by the lexicographer Arthur Leff in his legal dictionary is:

At least when found in a legal document, this only occasionally means all taxes; much more frequently it is the equivalent of “all of those kinds of taxes we were likely to have had in mind when we did this deal,” e.g., when a contract for the sale of stock contains the phrase “all taxes to be paid by the purchaser” that would mean that the purchaser would pay all transfer taxes, but not that he would pay any income tax payable by the seller consequent to his sale of the stock. But in a will instruction that the executor was to pay “all taxes” due from the estate, “all” would come close to meaning all.


Posted

in

by

Tags:

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *