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Definition of tax
1a : a charge usually of money imposed by authority on persons or property for public purposesb : a sum levied on members of an organization to defray expenses
2 : a heavy demand
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Examples of tax in a Sentence
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 of tax from the Web
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With Nafta talks due to begin in August, Trudeau’s cabinet has fanned out to lobby the White House, Congress and key U.S. governors to ward off proposals for a border tax or new trade tariffs.
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Then the IRS withheld Morel’s $840 federal tax return.
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The renovation project, paid for by hundreds of millions of tax dollars, remains a work in progress.
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And its specific provisions — sharp reductions to Medicaid and subsidies for working people, large tax cuts for the rich, measures to make insurance plans less comprehensive — are even less popular than the legislation, itself.
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It's supposed to start at a sticker price of $35,000 (before government EV tax credits) and make 215 miles of range.
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Contributors will receive a letter of confirmation for tax purposes.
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But there is another strategy that would be highly effective: raise alcohol taxes.
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The wine dinners cost $75, including six wine pairings, plus tax and tip.
These 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.
First Known Use of tax
14th century
Other Economics Terms
tax
Definition of tax
transitive verb
1 : to levy a tax on
2 : to make onerous and rigorous demands on the job taxed her strength
3 : charge, accuse taxed him with neglect of duty; also : censure
4 : to assess or determine judicially the amount of (costs in a court action)
5 obsolete : to enter (a name) in a list there went out a decree … that all the world should be taxed — Luke 2:1 (King James Version)
taxer
nounExamples of tax in a Sentence
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?
Origin and Etymology of tax
Middle English, to estimate, assess, tax, from Anglo-French taxer, from Medieval Latin taxare, from Latin, to feel, estimate, censure, frequentative of tangere to touch — more at 2tangent
Other Economics Terms
tax-
taxo-
or less commonlytaxi-
Definition of tax-
: arrangement taxeme taxidermy
Origin and Etymology of tax-
Greek taxi-, from taxis
Financial Definition of TAX
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.
TAX Defined for English Language Learners
tax
playDefinition of tax for English Language Learners
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: to require (someone) to pay a tax
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: to require someone to pay a tax on (something)
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: to require a lot from (something or someone) : to put demands on (something or someone)
tax
Definition of tax for English Language Learners
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: an amount of money that a government requires people to pay according to their income, the value of their property, etc., and that is used to pay for the things done by the government
TAX Defined for Kids
Definition of tax for Students
: money collected by the government from people or businesses for public use
Definition of tax for Students
taxed
;taxing
1 : to require to pay money to a government for public use
2 : to cause a strain on Fighting to survive the storm taxed their strength.
Law Dictionary
tax
Legal Definition of tax
1 : to assess or determine judicially the amount of (costs of an action in court)
2 : to levy a tax on tax the corporation tax capital gains
taxer
nounOrigin and Etymology of tax
Medieval Latin taxare to assess for taxation, tax, from Latin, to assess, value, fix
tax
Legal Definition of tax
1 : a charge usually of money imposed by legislative or other public authority upon persons or property for public purposes
2 : a sum levied on members of an organization to defray expenses
Learn More about tax
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See words that rhyme with tax Thesaurus: All synonyms and antonyms for tax Spanish Central: Translation of tax Nglish: Translation of tax for Spanish speakers Britannica English: Translation of tax for Arabic speakers
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