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Definition of tax
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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
The project included more than $24 million in public and private financing and more than $10 million in federal and state historic tax credits. — Thomas Jewell, cleveland.com, "After a yearlong vacancy, Shaker hires another locally-grown economic development director," 10 July 2019 Wildflower Studios has not sought a tax credit, state officials said. — Matthew Haag, New York Times, "De Niro and Netflix Bet That New York Can Be a New Hollywood," 10 July 2019 That project also is in line to receive more than $100 million in federal tax credits. — Hal Dardick, chicagotribune.com, "Cubs co-owner Todd Ricketts’ property tax appeal under investigation after Tribune finds assessment problem," 9 July 2019 The financing will come in the form of new market tax credits, provided through a partnership with UB Community Development, a certified community development entity of United Bancorpration of Alabama. — William Thornton | Wthornton@al.com, al.com, "SunTrust provides $3.2 million in financing for Auburn research center," 9 July 2019 The $3 million allocated for Maryland electric vehicle tax credits in fiscal year 2019, which ended Sunday, was gone by November. — Scott Dance, baltimoresun.com, "Maryland's electric vehicle rebate is so popular it ran out of money even before the fiscal year began July 1," 8 July 2019 That designation makes the project eligible for state and federal historic preservation tax credits as part of its financing. — Tom Daykin, Milwaukee Journal Sentinel, "Proposal to renovate historic West Bend Theatre for movies, events undergoing Plan Commission review," 8 July 2019 Donors would get a 50 percent refundable tax credit on donations to such centers. — Jessie Balmert, Cincinnati.com, "Conflict of interest? Butler County lawmaker says she won't vote on bill to help her nonprofit's donors," 8 July 2019 The state, in turn, offered up to $26 million in tax credits for job creation and capital investment to DuPont on behalf of the soon-to-be-formed Corteva. — Alexandria Burris, Indianapolis Star, "Indy spent $30M to keep Corteva’s 1,000-plus jobs, but company cagey about the future," 7 July 2019Recent Examples on the Web: Verb
That the Sox managed to win eight of the games is a testament to their offense, but the bullpen was taxed by picking up the additional innings. — Peter Abraham, BostonGlobe.com, "Alex Cora confident Red Sox ‘will play better’ in second half," 11 July 2019 What this means is that relatively low-income people who never went to college are being taxed to subsidize the careers of people who went to law school or who took other advanced degrees. — The Editors, National Review, "Bernie’s Daft Debt Jubilee," 25 June 2019 The public finance literature has long taken the view that taxing the assets wealth of the wealthy—as opposed to their income or spending— is inefficient. — Allison Schrager, Quartz, "Economists don’t agree on much, but what they do agree on is being ignored," 25 June 2019 While some companies including Rheem Manufacturing Co. support the duties, most are arguing that Trump shouldn’t tax their products. — Mark Niquette, Fortune, "Even Longtime Tariff Backers Say Trump Is Pushing Them Too Far," 17 June 2019 California has not conformed to the federal law, so profits on both investments are taxed as usual by the state. — Kathleen Pender, SFChronicle.com, "Tax questions answered, Opportunity Zone fund rush begins," 14 June 2019 The idea is that menstrual hygiene products, like prescription drugs and food items, are necessities and therefore should not be taxed. — Daniel Beekman, The Seattle Times, "Seattle would consider exempting tampons from sales tax under City Council proposal," 30 Oct. 2018 The unprecedented surge of migrant families has left U.S. immigration detention centers severely overcrowded and taxed the government’s ability to provide medical care and other attention. — Steve Leblanc, Twin Cities, "Wayfair workers walk out in protest over furniture sale to detention center," 26 June 2019 The unprecedented surge of migrant families has left U.S. immigration detention centers severely overcrowded and taxed the government’s ability to provide medical care and other attention. — Washington Post, "Wayfair workers protest furniture sale to detention center," 26 June 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
13 Jul 2019
Look-up Popularity
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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transitive verbLegal Definition of tax
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Legal Definition of tax (Entry 2 of 2)
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