commutation of taxes

commutation of taxes. A tax exemption resulting from a taxpayer’s paying either a lump sum or a specific sum in lieu of an ad valorem tax. [Cases: Taxation 200. C.J.S. Taxation § 273.]

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词条贡献者

双语律师Lorna，国际知名商学院金融专业，擅长翻译涉及金融创新和金融科技领域的法律文件。