tax

noun, often attributive

\ ˈtaks

Definition of tax

(Entry 1 of 3)

1a : 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

tax

verb

taxed; taxing; taxes

Definition of tax (Entry 2 of 3)

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)

tax-

combining form

variants: or taxo- or less commonly taxi-

Definition of tax- (Entry 3 of 3)

: arrangement taxeme taxidermy

Other Words from tax Synonyms More Example Sentences Learn More about tax

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Synonyms for tax

Synonyms: Noun

assessment, duty, imposition, impost, levy

Synonyms: Verb

strain, stretch, test, try

Examples of tax in a Sentence

Noun

The decision was made to raise taxes. He was accused of evading taxes.

Recent Examples on the Web: Noun

In addition, Century City is within an Opportunity Zone, a new federal program that provides generous tax breaks for investments within lower-income neighborhoods. — Tom Daykin, Milwaukee Journal Sentinel, "Franklin meat processor Strauss Brands, with 250 jobs, moving to Century City Business Park," 4 Sep. 2019 The state Economic Development Authority in 2015 approved $390 million in tax breaks. — Fortune, "Reaching the American Dream: a Traffic Nightmare?," 3 Sep. 2019

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.

History and Etymology for tax

Verb

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 tangent entry 2

Combining form

Greek taxi-, from taxis

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More Definitions for tax

tax

noun

Financial 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 selli

tax

Definition of tax

Other Words from tax

Synonyms for tax

Examples of tax in a Sentence

First Known Use of tax

History and Etymology for tax

Financial Definition of tax

tax

Definition of tax

Other Words from tax

Synonyms for tax

Examples of tax in a Sentence

First Known Use of tax

History and Etymology for tax

Financial Definition of tax

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