2 definition of taxes (note by the chairman) the attached extract taken from pages 27-30 of the oecd publication entitledrevenue statistics of oecd member countries (1965-1994)is relevant for the definition of taxes in the mai. State tax meaning: 1 in the us, a tax that you pay to the government of a state rather than to the national government: 2 a tax that you pay to the government: learn more. Freebase (000 / 0 votes) rate this definition: tax a tax is a financial charge or other levy imposed upon a taxpayer by a state or the functional equivalent of a state such that failure to pay is punishable by law.
Tax avoidance is perfectly legal and encouraged by the irs, but tax evasion is against the law classify the tactics below as examples of tax avoidance or tax evasion by clicking on the correct answer. Tax laws have in vain been multiplied new methods to enforce the collection have in vain been tried the public expectation has been uniformly disappointed, and the treasuries of the states have remained empty. New york definition of tax rate the percent income paid as tax, or value a good, service asset taxtax system search multiple engines excite tax system definition of tax by the free dictionary.
Tax (tăks) n 1 a contribution for the support of a government required of persons, groups, or businesses within the domain of that government 2 a fee or dues levied on the members of an organization to meet its expenses 3 a burdensome or excessive demand a strain trv taxed, tax ng, tax s 1 to place a tax on (income, property, or goods. Income tax definition is - a tax on the net income of an individual or a business how to use income tax in a sentence a tax on the net income of an individual or a business a tax paid on the money that a person or business receives as income. “tax distribution” means, with respect to any period, distributions made to any person by a subsidiary of such person on or with respect to income and other taxes, which distributions are not in excess of the tax liabilities that, (i) in the case of a subsidiary that is a corporation, would have been payable by such subsidiary on a standalone basis, and (ii) in the case of a subsidiary. Definition: direct tax is a type of tax where the incidence and impact of taxation fall on the same entity description: in the case of direct tax, the burden can’t be shifted by the taxpayer to someone else these are largely taxes on income or wealth income tax, corporation tax, property tax. Tax evasion is the illegal evasion of taxes by individuals, corporations, and truststax evasion often entails taxpayers deliberately misrepresenting the true state of their affairs to the tax authorities to reduce their tax liability and includes dishonest tax reporting, such as declaring less income, profits or gains than the amounts actually earned, or overstating deductions.
Tax avoidance is the legitimate minimizing of taxes, using methods included in the tax code businesses avoid taxes by taking all legitimate deductions and by sheltering income from taxes by setting up employee retirement plans and other means, all legal and under the internal revenue code or state tax codes. Tax vox populi monies paid to a governing body see dean's tax, fat tax, provider tax, sin tax tax, n a ratable portion of the proceeds or value of the property and labor of the citizen any contribution imposed by government for the use and service of the state tax brackets, npl the income intervals of the graduated income tax law that establish the. Am i required to file an estate tax return if the decedent is a us citizen or resident and decedent's death occurred in 2016, an estate tax return (form 706) must be filed if the gross estate of the decedent, increased by the decedent's adjusted taxable gifts and specific gift tax exemption, is valued at more than the filing threshold for the year of the decedent's death. Verb (used with object) (of a government) to demand a tax from (a person, business, etc) to demand a tax in consideration of the possession or occurrence of (income, goods, sales, etc), usually in proportion to the value of money involved. Tax money that the government collects based on income, sales, and other activities example: alex earned $300 but had to pay $42 of that to the government as tax.
Definition of 'property tax' property tax is a real estate ad-valorem tax, calculated by a local government, which is paid by the owner of the property the tax is usually based on the value of. Tax cuts are reductions to the amount of citizens’ money that goes toward government revenue tax cuts occur in many different forms congress can cut taxes on income, profits, sales, or assets they can be a one-time rebate, a reduction in the overall rate, or a tax credit most comprehensive. Definition: tax revenue forms part of the receipt budget, which in turn is a part of the annual financial statement of the union budget description: it gives a detailed report on revenue collected from different items like corporation tax, income tax, wealth tax, customs, union excise, service. Definition of tax charge against a citizen''s person or property or activity for the support of government make a charge against or accuse they taxed him failure to appear in court.
Learner's definition of tax: 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 [count] the decision was made to raise/cut taxes. Tax (amt) personal income and corporate taxpayers that take advantage of certain tax preferences if amt liability exceeds regular tax liability, the excess must be paid in addition to the taxpayer's regular tax liability the purpose is to ensure that taxpayers. Tax administration is the administration, management, conduct, direction, and supervision of the execution and application of a government, country or state tax law, tax legislation and their related statute.
Tax liability the amount in taxes a taxpayer to the government tax liability the money one owes to the government in a given year at its most basic, a tax liability is usually a certain percentage of one's income, and varies according to income that is, one who makes $100,000 per year usually has a higher tax liability than one who makes $25,000. In economics, taxes fall on whomever pays the burden of the tax, whether this is the entity being taxed, like a business, or the end consumers of the business's goods next up direct tax. Income tax is a part of your income that you have to pay regularly to the government. A definition and discussion of the term tax 'nexus' and how it affects business income taxes, online businesses, and sales taxes a definition and discussion of the term tax 'nexus' and how it affects business income taxes, online businesses, and sales taxes the balance small business.