tax

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Related to taxable: Taxable income

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 2006 proposed regulations generally determine the taxable income or loss of a Section 987 QBU by translating its income and loss items at the average exchange rate for the year.
Finally, major donors may choose to give the full $100,000 per year and avoid an additional $100,000 of reportable taxable income.
Living accommodation Normally taxable at annual value unless essential for your employment.
The more you trade, the more likely you'll incur taxable gains," says Gale P.
Of course, realization is dependent upon taxable income within the carryback and carryforward periods available under the tax law.
965 inclusion, would have a current-year loss, or an NOL carryforward that eliminates or reduces taxable income for the year or limits current taxable income.
If so, they must compute the taxable portion of workers' compensation benefits in the same way as the taxable portion of Social Security and Railroad Retirement benefits is computed.
That 20-year rental possibility could eliminate the lessee from short-term qualification, leaving the lessee with the burden of taxable income on the construction payments.
However, Form 1041 must be flied for the short taxable year of the QRT beginning with the decedent's date of death if an election will not be made for the trust, or if the trustee and executor are uncertain whether or not an election will be made for the QRT by the due date of Form 1041 for the short tax year of the QRT.
It is generally defined as having had taxable income of at least a $1 million before the application of an NOL carryback or carryforward in any of the prior three years.
The Ninth Circuit Court of Appeals recently heard a case relating to the deductibility of a paid but contested tax liability from a business's accumulated taxable income.
the taxable person) is established (a destination rule), rather than where the supplier is established (an origin rule).