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 ?
Many Fortune 500 companies have been cited as having material weaknesses in their tax accounting function; several have had to restate their financial statements.
But doing nothing assumes that all the Bush tax cuts will be allowed to expire as scheduled in 2010 and subsequently.
Abandon draft legislation in respect of Foreign Investment Entities and Non-Resident Trusts; if perceived abuses of the Income Tax Act cannot be addressed by Canada Revenue Agency (CRA) under the current provisions of the Income Tax Act, adopt narrower, more targeted remedies than this Draconian legislation.
PARTICIPATE IN A COLLEGE SAVINGS PLAN IF IT PROVIDES STATE INCOME TAX SAVINGS
The tax threshold has risen to $10,764 of adjusted gross income for single and married filing separate taxpayers, and $21,527 for married filing joint, surviving spouse and head of household taxpayers.
multinationals, in fact, have increased opportunities to lower their effective tax rate by moving profits from higher-taxed jurisdictions to lower-taxed ones, and to take advantage of legitimate non-U.
It's the legacy of an era when tax rates went as high as 70% and the tax code was full of loopholes for the wealthy," according to Mark Luscombe, CPA, attorney, and principal Federal tax analyst for CCH.
While there hasn't been much momentum for the Tobin tax in the United States since the DeFazio-Wellstone resolution, the issue continues to garner political support on the other side of the Atlantic.
Another highly complex area of the code is the estate tax, the repeal of which is one of the most conspicuous tax issues dividing the presidential candidates.
In theory, any additional equity that can be generated from State Historic Rehabilitation Tax Credits should be encouraged and applauded.
Moreover, even the system's planners knew, as early as the 1950s, that without big tax increases or benefit cuts the baby boom would bankrupt the system.
Air travelers, mainly, are hit with tax increases, and smokers are targeted as well.