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 ?
Because the kiddie tax is imposed only on unearned income in excess of $1,700, unearned income below that threshold is taxed at the child's rate.
Prior to the tax law change, dividend income was taxed as ordinary income, which could have been as high as 38.
While this is consistent with European methods, it differs dramatically from the way transactions are currently taxed.
Or you treat it like municipal bonds, whereby there is no deduction for saving, but the interest isn't taxed.
The importance of this distinction gets at what I believe is the major problem with our current tax system, which is that some forms of income are taxed two, three, or more times while others are not taxed at all.
By separating a wage return from other family financial activities, families would be taxed without consideration for their ability to pay.
Consumption could be taxed directly such as by a sales tax, by allowing a deduction for savings (and taxing savings withdrawals) or by exempting earnings on savings and investment.
Payments to capital and labor are taxed progressively at the individual level.
Adjusted gross income (AGI) over $115,000 for single taxpayers or $140,000 for married taxpayers is taxed at 36%.
Under California's Proposition 13, for example, a change in control may mean that the property will thereafter be taxed based on its current market value rather than the previously frozen value set back in the year 1978.
bank accounts), or selling assets that would be taxed unfavorably at death.