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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 does taxation mean?Pick the best ones! Spelling Bee Quiz Can you outdo past winners of the National Spelli... The meaning of TAXATION is the action of taxing; especially : the imposition of taxes. How to use taxation in a sentence.
    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 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.
    What is a portion of taxes used for?A portion of taxes may be used to service past debts. Governments also use taxes to fund welfare and public services. These services can include education systems, pensions for the elderly, unemployment benefits, transfer payments, subsidies and public transportation. Energy, water and waste management systems are also common public utilities .
    en.wikipedia.org
     
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    Web5 days ago · Learn the meaning of tax as a noun and a verb, with synonyms, examples, and pronunciation. Find out how tax can refer to a compulsory payment, a burden, or an accusation.

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  16. What Is Income Tax and How Are Different Types Calculated?

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