Definition
Property tax is a tax levied on the value of real estate or tangible property owned by individuals or entities within a specific jurisdiction. Property tax rates are typically based on the assessed value of the property and may vary depending on local tax laws and regulations. Property tax revenue is used to fund local government services and infrastructure projects.
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Private Limited Company (Ltd)
A Private Limited Company (Ltd) is a type of company where the ownership is divided into shares held by a small number of shareholders. The liability of shareholders is limited to the amount unpaid on their shares, and the company’s shares cannot be traded publicly on the stock exchange.
Limited Liability Partnership (LLP)
A Limited Liability Partnership (LLP) is a business structure where partners have limited personal liability for the debts and obligations of the partnership. Each partner’s liability is limited to their investment in the LLP, and they are protected from the actions of other partners.