Legal Dictionary

Category: Tax Law

  • Board of Directors

    See alsoA group of individuals elected by stockholders, who as a body manage… (Read more)…

  • Inflation

    Financial Definition of Inflation Meaning of Inflation The rate at which the general level of prices for goods and services is rising. Synonyms of Inflation (Decrease in value of currency), […]

  • Assessment

    Legal Definition and Related Resources of Assessment Meaning of Assessment The act or process of fixing or ascertaining the value , measure or proportion or interest of any thing or person . In relation to corporations, the term may refer to […]

  • Local Tax

    United States Tax Concept of Local Tax Your local county, town or city may impose tax to operate services such as garbage pick-up, water treatment, and street-cleaning.

  • Taxable Income

    All income classified as earned income within the meaning of Section 911 of the Internal Revenue Code of 1954 (26 U.S.C.S. §911) is taxable. Income is the excess of incoming receipts over outgoing expenditures. See United States v Basye, 410 U.S. 441, 93 S. Ct. 1080.

  • Bond

    Bond

    Legal Definition and Related Resources of Bond Meaning of Bond A contract under seal to pay a sum of money ; a contract under seal acknowledging a debt, present or future. This is a single bond. A double bond is one where there is a condition […]

  • Penalty

    Penalty

    Legal Definition and Related Resources of Penalty Meaning of Penalty A punishment . Suffering in person or property as a punishment annexed by law or judicial decision to a violation of law. Also a definite sum named in a contract , not as a […]

  • Sole Proprietorship

    Sole Proprietorship

    A business owned by a single individual. The sole proprietorship pays no corporate income tax but has unlimited liability for business debts and obligations….

  • Partnership

    Partnership

    The relation subsisting between two or more persons who have contracted together to share as common owners the profits of a business carried on by all or any of them on behalf of all of them, Shumaker, Partnership, 2. Elements : The essential elements of a partnership are (1) a contract […]

  • Trust

    Abuse of position of trust in Law Enforcement Main Entry: Law Enforcement in the Legal Dictionary. This section provides, in the context of Law Enforcement, a partial definition of abuse of position of trust. Grammar This term is a noun. Etimology of Trust (You may find trust at the world […]

  • Power of Attorney

    Power of Attorney

    Legal Definition and Related Resources of Power Of Attorney Meaning of Power Of Attorney An instrument in writing by which one person , as principal , appoints another as his agent and confers upon him the authority to perform certain specified […]

  • Interest

    Interest

    Legal Definition and Related Resources of Interest Meaning of Interest In relation to being objectively concerned in something, by having a right or title to, a claim upon, or a share in. legal concern in a thing; especially right or title to […]

  • Cash Flow

    Financial Definition of Cash Flow Meaning of Cash Flow In investments, it represents earnings before depreciation , amortization and non-cash charges. Sometimes called cash earnings. Cash flow from operations (called funds from operations ) by […]

  • Intangible Asset

    A legal claim to some future benefit, typically a claim to future cash. Goodwill, intellectual property, patents, copyrights, and trademarks are examples of intangible assets….

  • Branch

    Branch

    Legal Definition and Related Resources of Branch Meaning of Branch A local or subordinate office or place of business of an organization. Also, a small stream or creek. descendants . Includes a separately incorporated foreign branch of a bank. […]