Law Dictionary Definitions

tax loophole.See LOOPHOLE. [Blacks Law 8th]

tax list.An official schedule listing the taxable items within a jurisdiction; ROLL(2). [Blacks Law 8th]

tax lien.See LIEN. [Blacks Law 8th]

tax liability.The amount that a taxpayer legally owes after calculating the applicable tax; the amount of unpaid taxes. [Blacks Law 8th]

tax levy.See LEVY(1).

tax lease.See LEASE [Blacks Law 8th]

tax law. 1.INTERNAL REVENUE CODE. 2.The statutory, regulatory, constitutional, and common-law rules that constitute the law applicable to taxation. 3. The area of legal study dealing with taxation. [Blacks Law 8th]

tax injunction act.A federal law prohibiting a federal court from interfering with the assessment or collection of any state tax where the state affords a plain, speedy, and efficient remedy in its own courts. 28 USCA § 1341. [Cases: Federal Courts 27.] [Blacks Law 8th]

taxing district.See DISTRICT [Blacks Law 8th]

tax-increment financing.A technique used by a municipality to finance commercial developments usu. involving issuing bonds to finance land acquisition and other up-front costs, and then using the additional property taxes generated from the new development to service the debt. — Abbr. TIF. [Cases: Municipal Corporations 953.] [Blacks Law 8th]