tax

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Related to tax base: tax rate, Tax burden

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 ?
Currently, the relatively uniform and stable property tax base is being underused and the federal SALT subsidy diffused aimlessly, but at great expense.
The DOR ruled (51) that a manufacturer is required to add back property taxes it had expensed and deducted for Federal income tax purposes, to compute its state adjusted gross income tax base.
Critics complain the claw back provision prevents property owners who win an assessment appeal from being granted any tax reduction because the area's tax base is not large enough.
No one, Justice Breyer said, claimed the different tax rates for foreign and domestic corporations offset these significant differences in their tax bases.
Such concerns include states attempting to use sales tax simplification legislation to expand the tax base or attempts to move existing sales and use tax provisions that do not comply with the Agreement into other areas of the tax code (in essence, "shifting complexity" to other taxes).
One example highlighting the importance of such an approach would be using consolidated accounts after the elimination of intercompany transactions as a common tax base.
A single tax rate is applied to individuals and businesses; investment income is not included in the tax base.
However, whether the MSBT must be added back in computing the state tax base continues to be an area of litigation.
A state -- and local governments within the state -- should adopt common tax bases and accept responsibility for providing notice of rate and boundary changes.
The 'AA' rating is based the city's sound financial profile and accompanying monitoring, reporting and forecasting practices, continued economic and tax base expansion, and an affordable debt burden despite pressures associated with recently rapid population growth.
The modified tax base is subject to apportionment, using a three-factor formula.
Recent developments have significantly modified the Michigan nexus standard that is used for determining whether a business has sufficient contacts with the State to be subject to the SBT, and whether an in-state taxpayer's tax base can be apportioned to another State (the so-called throwback issue).