1

tax

noun, often attributive \ ˈtaks \
Updated on: 16 Nov 2017

Definition of tax

1 a :a charge usually of money imposed by authority on persons or property for public purposes
b :a sum levied on members of an organization to defray expenses
2 :a heavy demand

Examples of tax in a Sentence

  1. The decision was made to raise taxes.

  2. He was accused of evading taxes.

  3. What was your income before taxes?

  4. What is the amount of tax to be paid?

  5. What was your income before tax?

Recent Examples of tax from the Web

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


2

tax

verb

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)

taxable

play \ˈtak-sə-bəl\ adjective

taxer

noun

Examples of tax in a Sentence

  1. He believes in taxing the rich to give to the poor.

  2. You are taxed according to your income.

  3. puzzles that tax your brain

Recent Examples of tax from the Web

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.

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


tax-

combining form
variants: or taxo- or less commonly taxi-

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

verb

Definition of tax for English Language Learners

  • : to require (someone) to pay a tax

  • : to require someone to pay a tax on (something)

  • : to require a lot from (something or someone) : to put demands on (something or someone)


tax

noun

Definition of tax for English Language Learners

  • : 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

1

tax

noun \ ˈtaks \

Definition of tax for Students

:money collected by the government from people or businesses for public use

2

tax

verb

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

1

tax

transitive verb

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

noun

Origin and Etymology of tax

Medieval Latin taxare to assess for taxation, tax, from Latin, to assess, value, fix


2

tax

noun, often attributive

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


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