The legal owner is on title for property and therefore appears to have control over it, even though a beneficial owner may be entitled to the benefit of ownership.
The legal structure of a business is how it is legally setup to operate. For example, a legal structure could be a single corporation that engages in business. Or it could be a partnership that owns a corporation that own assets that produce goods or services.
A tax levy is where taxpayerproperty is brought into the legal custody of the taxing authority through seizure. A levy being an absolute legal appropriation of the property being levied upon.
A lien is a security interest or claim on the taxpayer'sproperty that is established by statute and by itself does not transfer title or possession of the debtor's property, but allows the taxing authority to avail itself of the lien in the event of a default of payment.
A long term capital gain is where an investmentproperty has been held by a taxpayer for more than a year and when sold the amount realized was greater than the taxpayer's basis.
LEAPS are the same as options, except that options normally have an expiry date of 9 months or less, whereas LEAPS have expiry dates exceeding 9 month and can sometimes be 2 years or more.