Law Dictionary Definitions

See alternative minimum tax. [Blacks Law 8th]

An excise tax imposed on high-priced items that are not deemed necessities (such as cars costing more than a specified amount). Cf. sin tax. [Cases: Taxation 1201.1–1345. C.J.S. Indians § 131; Steam§ 4; Taxation §§ 1990–2071.] [Blacks Law 8th]

A tax on a legacy, often with the provision that the rate increases as the relationship of the legatee becomes more remote from the testator. • In English law, this tax was known as a legacy duty; it was abolished in 1949. Cf. collateral-inheritance tax. [Cases: Taxation 856.1. C.J.S. Taxation §§ 1783–1785, 1792.] [Blacks Law…

See property tax. [Blacks Law 8th]

Slang. A federal tax imposed on a child’s unearned income (above an exempt amount) at the parents’ tax rate if the parents’ rate is higher and if the child is under 14 years old. — Also termed child’s income tax. [Blacks Law 8th]

A tax imposed as a substitute for another.intangible tax.A state tax imposed on the privilege of owning, transferring, devising, or otherwise dealing with intangible property. [Cases: Taxation 1. C.J.S. Taxation §§ 1–3, 5–6.] interest-equalization tax.A tax imposed on a U.S. citizen’s acquisition of stock issued by a foreign issuer or a debt obligation of a…

1. A tax imposed on a person who inherits property from another (unlike an estate tax, which is imposed on the decedent’s estate). • There is no federal inheritance tax, but some states have an inheritance tax (though it is creditable or deductible under the federal estate tax). — Also termed succession tax; death tax.…

A tax on a right or privilege, such as an occupation tax or franchise tax. • An indirect tax is often presumed to be partly or wholly passed on from the nominal taxpayer to another person. [Cases: Licenses 1. C.J.S. Architects § 8; Licenses §§ 2–4.] [Blacks Law 8th]

tax on an individual’s or entity’s net income. • The federal income tax — set forth in the Internal Revenue Code — is the federal government’s primary source of revenue, and most states also have income taxes. Cf. property tax; EXCISE. [Cases: Internal Revenue 3065–4122; Taxation 931–1104. C.J.S. Indians § 131; Internal Revenue§§ 12–14, 16–492,…

A tax that violates the law, esp. the constitution. • For an example, see poll tax. See erroneous tax. [Blacks Law 8th]