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Definition of tax
(Entry 1 of 3)
tax
verbDefinition of tax (Entry 2 of 3)
tax-
combining formDefinition of tax- (Entry 3 of 3)
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Other Words from tax
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adjective
Synonyms for tax
Synonyms: Noun
assessment, duty, imposition, impost, levy
Synonyms: Verb
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Examples of tax in a Sentence
Noun
The decision was made to raise taxes. He was accused of evading taxes. What was your income before taxes? What is the amount of tax to be paid? What was your income before tax?Verb
He believes in taxing the rich to give to the poor. You are taxed according to your income. puzzles that tax your brain
Recent Examples on the Web: Noun
Abbott is also offering to pay for the notary fees, taxes, two flights from anywhere in Europe for the signing, two nights’ accommodation and two days’ car hire for the raffle winner. — Elizabeth Gulino, House Beautiful, "You Could Become The Owner of This Gorgeous Italian Villa—For Free," 3 Apr. 2019 As for your taxes, the question isn’t whether Medicare for All would raise them, but by how many tens of trillions. — Seema Verma, WSJ, "Medicare for All Means Hope for None," 27 Mar. 2019 O’Connor noted that the Supreme Court upheld the law in 2012 because its requirement for Americans to carry health insurance was enforced through fines levied as taxes, which passed constitutional muster. — Ricardo Alonso-zaldivar, The Seattle Times, "Dems cry foul as Trump calls for striking down ‘Obamacare’," 27 Mar. 2019 Because the estate cost over half a million dollars a year in maintenance and taxes, Elvis's former wife Priscilla Presley and the executors (following Vernon's death) planned to open Graceland to the public. — Taylor Mead, House Beautiful, "Everything You Need to Know About Graceland, Home of Elvis Presley," 14 Mar. 2019 In the London Review of Books, Jeremy Harding examines the issue not according to the medium but to its message: widespread dissatisfaction with French President Emmanuel Macron, rising taxes, and stagnant wages. — Casey Newton, The Verge, "Facebook’s role in the French protests has polarized observers," 11 Dec. 2018 Notably, the story also says the company reported positive earnings to investors in disclosures but that these earnings were before interest, taxes, depreciation, and other factors. — Eric Berger, Ars Technica, "What is going on with SpaceX and all these Big Falcon Rocket changes?," 20 Nov. 2018 The Launch Edition will cost $63,000, which translates to $55,500 after the $7,500 tax credit. — Ezra Dyer, Popular Mechanics, "The Polestar 2 Is the First Car to Directly Challenge the Tesla Model 3," 27 Feb. 2019 President Trump promised a reduction in taxes with the new law. — Sarah Skidmore Sell, The Seattle Times, "I owe how much? Americans shocked by impact of new tax law," 20 Feb. 2019Recent Examples on the Web: Verb
But taxing the lifeblood of the community isn’t the way to go about it. — Wendy Lee, SFChronicle.com, "Google tax to go before voters as tech giant’s hometown puts proposal on ballot," 26 June 2018 In 1791, Treasury Secretary Alexander Hamilton thought taxing the most popular beverage of the day -- whiskey -- would be an easy solution to the debt situation facing the young democracy. — Alan Ashe, CNN, "It's National Moonshine Day. We answer your questions," 7 June 2018 With hundreds of townships, villages, cities, counties and taxing authorities just in southeast Michigan alone, there are inefficiencies built into the system. — John Gallagher, Detroit Free Press, "Why can't Michigan solve the biggest problems like it once did?," 30 May 2018 This tax means items that aren’t a necessity, and are instead a luxury, will be subject to taxing while items that are necessities are exempt, such as food and some medicines. — Maride Espada, Teen Vogue, "Period Taboo Around the World," 28 May 2018 Public school properties, like Brumby, are exempt from being taxed. — Ben Brasch, ajc, "Kroger proposed in Cobb approved for $35M bond deal and a tax break," 22 May 2018 Many states have a gas tax, but a slightly more progressive idea is road pricing—charging drivers by vehicle-miles driven instead of taxing gasoline. — Alissa Walker, Curbed, "You can’t be a ‘climate mayor’ if you’re making more room for cars," 6 Apr. 2018 But the effort to regulate and tax adult-use cannabis has hit stumbling blocks in Albany amid disputes over revenue, who will have access to licenses and an intensifying counteroffensive by marijuana opponents. — Jimmy Vielkind, WSJ, "Legalizing Marijuana Hits Hurdles in Albany," 21 Mar. 2019 Some of the more physically taxing work that plumbers do can be wrestling with cast-iron pipe and getting a new boiler into a basement and then getting the old one out. — Roy Berendsohn, Popular Mechanics, "How to Become a Skilled Tradesperson," 13 Mar. 2019These example sentences are selected automatically from various online news sources to reflect current usage of the word 'tax.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.
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Statistics for tax
Last Updated
20 Apr 2019
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Time Traveler for tax
The first known use of tax was in the 14th century
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More Definitions for tax
tax
nounFinancial Definition of tax
What It Is
Taxes are required payments from citizens to governments. The payments fund projects and expenditures that serve the public interest.
How It Works
Most taxes are legislated, meaning that representatives elected by the citizens of a country or region determine what activities to tax, how much to tax, when to collect those taxes, and how to administer the proceeds. Individuals, businesses, and other entities subject to the tax must remit the tax or face enforcement action.
Why It Matters
Taxes are a topic of fierce debate in economics, politics, public policy and investing. For example, one of the most controversial taxes in the United States is the federal income tax. In the U.S., we have a progressive tax, meaning that a person's tax rate rises as income rises.
Economically speaking, one of the biggest effects of taxation is the impact it has on consumption. Generally, consumers will consume less when taxes rise and consume more when taxes fall.
In the investing world, taxes are also a major consideration. Some transactions trigger tax liabilities while others do not. The timing of buying and selling certain investments may trigger different tax liabilities. Ultimately, taxes reduce returns, and wise investors will consider their effects in all of their financial decisions.
Source: Investing Answers
tax
noun
English Language Learners Definition of tax
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verbEnglish Language Learners Definition of tax (Entry 2 of 2)
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Kids Definition of tax
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verbKids Definition of tax (Entry 2 of 2)
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tax
transitive verbLegal Definition of tax
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Legal Definition of tax (Entry 2 of 2)
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