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The UNICAP rules require a taxpayer to capitalize all direct and indirect costs that they incur in the production of real or tangible personal property that are allocable to that property. Therefore, for example, a taxpayer would have to capitalize not only the direct costs that they incur with constructing a building, like paying employees ...
In an apportioned land tax, each state would have its own rate of taxation sufficient to raise its pro-rata share of the total revenue to be financed by a land tax. So, for example, if State A has 5% of the population, the State A would collect and remit to the federal government such tax revenue that equals 5% of the revenue sought.
Tax law or revenue law is an area of legal study in which public or sanctioned authorities, such as federal, state and municipal governments (as in the case of the US) use a body of rules and procedures (laws) to assess and collect taxes in a legal context. The rates and merits of the various taxes, imposed by the authorities, are attained via ...
In contrast with damages (the law of compensation), restitution is a claim or remedy requiring a defendant to give up benefits wrongfully obtained. Liability for restitution is primarily governed by the "principle of unjust enrichment": A person who has been unjustly enriched at the expense of another is required to make restitution.
Examples include the Omnibus Taxpayer Bill of Rights (Subtitle J of the Technical and Miscellaneous Revenue Act of 1988), the Taxpayer Bill of Rights 2 passed in 1996, and the Taxpayer Bill of Rights III passed in 1998. Nationally, Members of Congress have made attempts to give taxpayers more rights in terms of tax debts and interactions with ...
Burial rules: The Florida statute reads: “Any owner, custodian, or person in charge of domestic animals, upon the death of such animals due to disease, shall dispose of the carcasses of such ...
In the tax law of the United States the claim of right doctrine causes a taxpayer to recognize income if they receive the income even though they do not have a fixed right to the income. For the income to qualify as being received there must be a receipt of cash or property that ordinarily constitutes income rather than loans or gifts or ...
A prayer for relief, in the law of civil procedure, is a portion of a complaint in which the plaintiff describes the remedies that the plaintiff seeks from the court. For example, the plaintiff may ask for an award of compensatory damages, punitive damages, attorney's fees, an injunction to make the defendant stop a certain activity, or all of these.