Law Dictionary Definitions

1. The imposition of two taxes on the same property during the same period and for the same taxing purpose. [Cases: Taxation 47. C.J.S. Taxation §§ 61–72.] 2. The imposition of two taxes on one corporate profit; esp., the structure of taxation employed by Subchapter C of the Internal Revenue Code, under which corporate profits…

taxation. 1. The imposition or assessment of a tax; the means by which the state obtains the revenue required for its activities. [Cases: Internal Revenue 3001–3007; Taxation 1. C.J.S. Internal Revenue §§ 2, 4; Taxation §§ 1–3, 5–6.] [Blacks Law 8th]

tax assessor.See ASSESSOR(1). [Blacks Law 8th]

tax avoidance.The act of taking advantage of legally available tax-planning opportunities in order to minimize one’s tax liability. Cf. TAX EVASION. [Cases: Internal Revenue 3056–3058; Taxation 108. C.J.S. Internal Revenue §§ 3, 14–16; Taxation § 88.] [Blacks Law 8th]

tax assessment.See ASSESSMENT(3). [Blacks Law 8th]

tax-apportionment clause.A testamentary provision directing how inheritance and estate taxes should be paid. [Blacks Law 8th]

tax-anticipation warrant.See WARRANT(2). [Blacks Law 8th]

tax-anticipation note.See NOTE(1). [Blacks Law 8th]

tax-anticipation bill.A short-term obligation issued by the U.S. Treasury to meet the cash-flow needs of the government. • Corporations can tender these bills at par value to make quarterly tax payments. — Abbr. TAB. [Blacks Law 8th]

tax accounting.The accounting rules and methods used in determining a taxpayer’s liability. [Blacks Law 8th]