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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
Verb
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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
The cash prize, according to People, typically carries a $500,000 tax liability. — Maya Mcdowell, House Beautiful, "An HGTV Dream Home Giveaway Winner Reveals Why She Never Moved In," 1 Feb. 2019 For a 2016 study, published in JAMA, a group of researchers led by Stanford University economist Raj Chetty analyzed income data for the US population from 1.4 billion tax records between 1999 and 2014. — Julia Belluz, Vox, "We’re making real progress against cancer. But you may not know it if you’re poor.," 8 Jan. 2019 Note that prices do not include taxes, fees, and carrier charges. — Caitlin Morton, Condé Nast Traveler, "12 Days of Deals: U.S. to Cape Town for $549 Round-Trip," 24 Dec. 2018 Proposition 26, a 2010 ballot initiative, requires a supermajority to raise fees (supplementing 1978’s Proposition 13, which requires a supermajority to raise taxes). — David Roberts, Vox, "California’s cap-and-trade system may be too weak to do its job," 12 Dec. 2018 Constellation reported a $135 million loss from investments that weighed on results, lowering net income before taxes. — Micah Maidenberg, WSJ, "Constellation Brands Lowers Outlook After Earnings Miss," 9 Jan. 2019 Catch me from now until the end of the year wearing a sash for the most mundane tasks—going to the grocery store, paying my taxes, riding the subway, etc. — Christopher Rosa, Glamour, "Here's What the Bachelor Contestants Are Packing to Meet Colton Underwood," 7 Jan. 2019 Tech leaders there, working in offices that benefitted from public subsidies, are mostly pushing back against measures to levy taxes on companies to combat the city’s significant homeless crisis. — Patrick Sisson, Curbed, "Big cities courting big tech helped define 2018," 18 Dec. 2018 The promise of new funds comes as Pakistan is negotiating with the International Monetary Fund for a bailout package and the government is working to formulate a budgetary plan that would raise tax revenues and restrain spending. — Waqar Gillani, WSJ, "UAE Promises Pakistan $3 Billion to Boost Foreign-Currency Reserves," 21 Dec. 2018Recent Examples on the Web: Verb
Bernie Sanders proposed nearly doubling the top estate-tax rate to 77% from 40%, continuing progressives’ push for new and expansive ways to tax the wealthiest Americans and combat inequality. — Richard Rubin, WSJ, "Bernie Sanders Proposes Big Boost in Top Estate-Tax Rate," 31 Jan. 2019 The program taxes hospitals and adds matching federal funds before redistributing the money to about 200 hospitals across the state. — Robert Channick, chicagotribune.com, "South Shore Hospital tells state it needs $3 million in funding by Aug. 1 to avoid shutdown," 10 July 2018 And next week the United States is to start taxing $34 billion in Chinese goods, and later add tariffs on an additional $16 billion in goods. — Lolita C. Baldor, The Seattle Times, "Mattis arrives in China; NKorea to be key topic of meetings," 26 June 2018 Murphy wants to expand pre-K, make a down payment on a plan to make community college tuition-free by 2021, legalize and tax recreational marijuana, and boost funding for education, public workers’ pensions, and transportation. — Andrew Seidman, Philly.com, "Democrats have one-party rule in Trenton. Why can't they agree on taxes?," 13 June 2018 More stories: But 18 months after the law was passed to regulate and tax the medical marijuana market and six months after the state began accepting applications for those businesses, not a single license has been awarded. — Kathleen Gray, Detroit Free Press, "Cancelled meeting means more delays for medical marijuana licenses," 8 June 2018 Even if parishes approve fantasy sports gambling, additional legislation will be needed in 2019 to figure out how to regulate and tax the games. — Julia O'donoghue, NOLA.com, "Louisiana voters will decide on legalizing fantasy sports betting apps in November," 26 May 2018 While the outbreak is in a remote area where road travel is taxing and slow, one of the towns where cases may be occurring, Bikoro, is a port on a lake that connects to the Congo and Ubangi rivers. — Helen Branswell, STAT, "WHO officials fear latest Ebola outbreak in Congo could spread to big cities," 9 May 2018 The work is emotionally taxing, and Castillo rubbed her temples at the end of a long day. — Aaron Nelsen, San Antonio Express-News, "Tamaulipas begins first-of-its-kind exhumation of drug war victims," 7 May 2018These 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
9 Feb 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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tax
verbEnglish Language Learners Definition of tax (Entry 2 of 2)
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tax
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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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