floor tax
A tax imposed on distilled spirits stored in a warehouse. [Cases: Internal Revenue 4314. C.J.S. Internal Revenue § 597.]
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recognition
recognition, n. 1. Confirmation that an act done by another person was authorized. See RATIFICATION. [Cases: Principal and Agent 170(2).C.J.S. Agency § 88.] 2. The formal admission that a person, entity, or thing has a particular status; esp. a nation’s act in formally acknowledging the existence of another nation or national government. 3. Parliamentary law.