tax

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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 ?
8220;Switching future contributions to a Tax-Free Retirement Plan is truly a no brainer.
Roth IRA: As long as it doesn't fall victim to Congressional legislation in the coming years, the Roth IRA will continue to be a formidable tax-free alternative:
For a complete list of tax-free items available during Tax-Free Weekend, August 21-23, visit http://www.
This decision appears to permit the tax-free exchange of real property burdened by supply contracts, as long as the contracts are considered real property interests under state law.
Lifetime Savings Accounts allow contributions up to $7,500 each year and tax-free withdrawals at any time.
Incorporations and Liquidations: Since a business may incorporate tax-free, but corporate liquidations (necessary to convert to a partnership) are taxable, the decision to incorporate should not be taken lightly.
You transfer all these assets to a family limited partnership (FLIP) - a tax-free transaction.
The contribution is taxed, but interest accrual and expenditures are tax-free.
On January 2, 1997, the Internal Revenue Service issued proposed regulations under section 368 that would significantly relax the "remote" continuity-of-interest doctrine for certain tax-free reorganizations.
TESSAS are five-year tax-free savings plans available from banks and building societies.
To get such a project underway Rudack suggested that tax-free bonds and debentures could be used, as they are similarly used for large projects in the United States.
Site designed to educate commuters and employers on tax-free commuter benefits and environmental preservation