Law Dictionary Definitions

tax ferret.A private person engaged in the business of searching for taxable property that has somehow not been taxed. [Cases: Internal Revenue 4442. C.J.S. Internal Revenue § 610.] [Blacks Law 8th]

tax-exempt bond.See BOND(3). [Blacks Law 8th]

tax-exempt,adj.1. By law not subject to taxation . [Cases: Internal Revenue 4045–4071; Taxation 211–250. C.J.S. Internal Revenue §§ 327, 462–474, 670, 798; Taxation§§ 266, 275, 277–282, 287–289, 291–298, 300, 303–383, 1736–1737.] 2. Bearing interest that is free from income tax . — Also termed tax-free. [Blacks Law 8th]

The willful attempt to defeat or circumvent the tax law in order to illegally reduce one’s tax liability. • Tax evasion is punishable by both civil and criminal penalties. — Also termed tax fraud. Cf. TAX AVOIDANCE. [Cases: Internal Revenue 5263; Taxation 1103. C.J.S. Internal Revenue § 847; Taxation § 1782.] [Blacks Law 8th]

tax-deficiency notice.See NINETY-DAY LETTER. [Blacks Law 8th]

tax deficiency.See DEFICIENCY. [Blacks Law 8th]

proletarius (proh-l<<schwa>>-tair-ee-<<schwa>>s), n. [Latin] Roman law. One of the common people; a member of a lower class who owned little or no property.   [Blacks Law 8th]

proletariat (proh-l<<schwa>>-tair-ee-<<schwa>>t). The working class; those without capital who sell their labor to survive.   [Blacks Law 8th]

proles (proh-leez). [Latin] Offspring; esp., the issue of a lawful marriage.   [Blacks Law 8th]

pro legato (proh l<<schwa>>-gay-toh). [Latin] As a legacy; by the title of a legacy. • This is a ground of usucapio. See USUCAPIO.   [Blacks Law 8th]