### possession | tax:

Property tax
* are taxs.
* claim of ownership by the state.
* is an ad valorem tax on the value of real property
  - tax, which means according to value
  - collected on all personal property owned by a business
* is the main source of revenue for local governments
  - primary source of funding for local government in Idaho
  - single biggest burden on Pennsylvania s taxpayers

### possession | tax:

Tariff
* Most tariffs provide for automatic increases in line with the cost of living.
* add to the price of a product, while quotas restrict the quantity of imports directly.
* affect domestic and foreign producers, and domestic consumers.
* also contain the terms under which utilities provide service
  - protect domestic producers from foreign competition
* always restrict the total flow of exports.
* are a deliberate effort to alter spending priorities geographically
  - tax on imports
  - fees or taxes imposed by governments on the import and export of goods
  - high on luxury goods though customs exemptions are granted to diplomats
  - one component of paid services and also show up in the prices of finished goods
  - public information
  - taxes imposed on imported goods
* are taxes on American consumers
* are taxes that a nation imposes on imports from other countries
  - different countries charge on imported goods
  - punish individuals for making choices of which their governments disapprove
* can never raise a country s standard of living.
* impose costs both in the country where they are applied and on other countries.
* often protect the utilities rather than consumers.
* provide protection by acting to raise the price of imported goods.
* raise production costs, distort trade flows, and hold back economic growth
* reduce exports
  - the volume of imports and raise domestic prices
* result in higher prices to consumers.
* shift resources and production from more effective to less effective producers.

### possession | tax | tariff:

High tariff
* encourage inefficient producers and drive up consumer prices.
* tend to favor Northern industrial economies.

Import tariff
* Most import tariffs are now quite low, particularly in developed countries.
* remain among the highest in the world.

Tonnage
* Generally refers to freight handled.
* is determined by volume
  - duties
* refers to both heating and cooling capacity
  - the carrying capacity of the vessel
* varies because hazelnuts are a biennial crop.

### possession | tax | tariff | tonnage:

Displacement tonnage
* express the weight of the ship.
* way to measure a ship's capacity.

Gross tonnage
* dimensionless index calculated with a mathematical formula.
* measure of the internal capacity of a ship, tug or barge.

Net tonnage
* is the internal volume available for cargo, crew and passengers.
* measure of a vessel's volume
  - the internal capacity of a ship, tug or barge's cargo space volume only

Tax avoidance
* is minimization
  - the legal effort to reduce one's tax liability through means sanctioned by law
* phrase that has come to mean any legal method of paying less taxes.

Tax planning
* is an honourable and legitimate way of saving money.
* major national industry running into the billions of dollars.

### possession | tax | transfer tax:

Estate tax
* concern of many farm people.
* is based on a NET estate
  - levied on properties owned by the decedent at the time of death
* means federal estate tax, including any interest and penalty thereon.
* transfer tax

Inheritance tax
* is known as a tax on the rich.
* tax on the transfer of money and property.
* transfer tax

Possessive
* Add an apostrophe and an s to singular nouns to indication possession.
* occur only with nouns and time expressions and indefinite pronouns.

Possessive case
* Possessive Case Use the possessive case to show ownership.
* pronouns show ownership.