tax

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Related to tax system: Progressive tax system, Territorial tax system

tax

n. a governmental assessment (charge) upon property value, transactions (transfers and sales), licenses granting a right, and/or income. These include Federal and state income taxes, county and city taxes on real property, state and/or local sales tax based on a percentage of each retail transaction, duties on imports from foreign countries, business licenses, Federal tax (and some states' taxes) on the estates of persons who have died, taxes on large gifts, and a state "use" tax in lieu of sales tax imposed on certain goods bought outside of the state. (See: income tax, estate tax, gift tax, use tax, unified estate and gift tax, franchise tax)

tax

noun assessment, capitation, charge, dues, duty, exaction, exactment, excise, imposition, impost, levy, pollage, portorium, scot, tariff, taxation, tithe, toll, tribute, vectigal
Associated concepts: action for taxes, ad valorem tax, apportionment of taxes, back taxes, collection of taxes, current tax, delinquent tax, direct tax, discriminatory tax, douule taxation, estate tax, evasion of taxation, excess profits tax, excessive tax, excise tax, federal estate tax, federal taxes, franchise tax, general tax, graduated tax, income tax, indirect tax, inheritance tax, land tax, levy a tax, power of taxation, power to tax, progressive tax, propprty tax, proportional tax, regulatory tax, retroactive tax, sales tax, tax anticipation note, tax assessor, tax deed, tax district, tax lien, tax roll, tax sale, tax title, tax warrants, transfer tax, withholding taxes

tax

(Levy), verb assess, collect, exact, lay a duty, require

tax

(Overwork), verb burden, cumber, debilitate, deprive of strength, disable, drain, encumber, exact, fatigue, load, make excessive demands, oppress, overexercise, overexert, overfatigue, overload, overstrain, overtire, overuse, push too far, require, saddle with, strain, task, tire out, tyrannize, use hard, weaken, wear down, wear out, weary, weigh down
See also: assess, assessment, charge, coerce, compel, cost, deplete, encumber, enforce, exact, excise, exhaust, fine, force, hinder, impose, levy, rebuke, reproach, require, toll

tax

a levy made by national or local government to pay for services provided by public bodies. There is no inherent power in the Crown to raise money in this way; express provision must be made by statute. Changes to tax law are made annually in the Finance Act(s); periodically the law is consolidated, as for example in the Income and Corporation Taxes Act 1988 or the Taxation of Chargeable Gains Act 1992. See TAXATION.
References in periodicals archive ?
The United States should adopt a competitive territorial tax system comparable to those of our major competitors.
Undoubtedly, a new tax system will create a new set of winners and losers, and the losers can be expected to express their disapproval at the ballot box.
This was the tax system that the New Dealers inherited when they took over in 1932.
If so, you are among the millions ready for a radical change to our tax system.
Whatever happens, reform in the late 1990s will not halt the evolution of the tax system.
Part IV identities issues resulting from the current estate, gift and GST tax law and suggests alternative ways of resolving them through modifications to the current wealth transfer tax system.
It seems to me that our tax system is totally unfair to the average citizen.
However, that solution just adds another whole tax system onto an existing complicated structure.
Combined with the overhead costs of the tax system, this means that it costs $1.
This commission will propose how to do [that] and how to simplify the entire property tax system.
tax system, ACT believes it is vital that policymakers and the public understand how high corporate rates affect where businesses choose to incorporate, the level of domestic investment, research, wages, and employment, and federal revenue, among other impacts.