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  2. Dictionary

    tax
    [taks]
    noun
    tax (noun) · taxes (plural noun)
    1. a compulsory contribution to state revenue, levied by the government on workers' income and business profits, or added to the cost of some goods, services, and transactions:
      "higher taxes will dampen consumer spending" · "a tax on fuel" · "they will have to pay tax on interest earned by savings" · "a tax bill" · "tax cuts"
      Opposite:
    verb
    tax (verb) · taxes (third person present) · taxed (past tense) · taxed (past participle) · taxing (present participle)
    1. impose a tax on (someone or something):
      "hardware and software is taxed at 7.5 percent"
      Similar:
      levy a tax on
      impose a toll on
      charge duty on
      exact a tax on
      demand a tax on
    2. make heavy demands on (someone's powers or resources):
      "she knew that the ordeal to come would tax all her strength"
    3. confront (someone) with a fault or wrongdoing:
      "why are you taxing me with these preposterous allegations?"
    4. law
      examine and assess (the costs of a case):
      "an officer taxing a bill of costs"
    Origin
    Middle English (also in the sense ‘estimate or determine the amount of a penalty or damages’, surviving in tax): from Old French taxer, from Latin taxare ‘to censure, charge, compute’, perhaps from Greek tassein ‘fix’.
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  3. People also ask
    What is taxation?Taxation refers to the act of levying or imposing a tax by a taxing authority. Taxes include income, capital gains, or estate.
    What is the meaning of tax?a. to impose a tax on (a person or business). b. to levy a tax on (income, goods, etc.), usu. in proportion to the value of money involved. 4. to make serious demands on or of; burden; strain: to tax one's resources. 5. to reprove or accuse; censure or charge: to tax a person with laziness.
    What is tax and its types?A tax is a mandatory fee or financial charge levied by any government on an individual or an organization to collect revenue for public works providing the best facilities and infrastructure. The collected fund is then used to fund different public expenditure programs.
    What is income tax?Income tax is a type of tax governments impose on income generated by businesses and individuals within their jurisdiction. Income tax is used to fund public services, pay government obligations, and provide goods for citizens. The federal government and many states, as well as local jurisdictions, levy their own income taxes.
     
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