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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 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.
    Are taxes a noun or verb?Paying taxes to governments or officials has been a mainstay of civilization since ancient times. The term "taxation" applies to all types of mandatory levies, from income to capital gains to estate taxes. Though taxation can be a noun or verb, it is usually referred to as an act; the resulting revenue is usually called "taxes."
    What does tax mean?TAX definition: 1. (an amount of) money paid to the government that is based on your income or the cost of goods or…. Learn more.
    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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