tax : Idioms & Phrases


ad valorem tax

  • noun a tax levied on the difference between a commodity's price before taxes and its cost of production
    ad valorem tax; VAT.
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capital gains tax

  • noun a tax on capital gains
    • he avoided the capital gains tax by short selling
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council tax

  • noun a tax levied on households by local authorities; based on the estimated value of the property and the number of people living in it
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Crown tax

  • (Eccl. Hist.), a golden crown, or its value, which was required annually from the Jews by the king of Syria, in the time of the Maccabees. 1 Macc. x. 20.
Webster 1913

death tax

  • noun a tax on the estate of the deceased person
    death tax; death duty; estate tax.
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declaration of estimated tax

  • noun return required of a taxpayer whose tax withheld from income does not meet the tax liability for the year
    declaration of estimated tax.
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degressive tax

  • noun any tax in which the rate decreases as the amount subject to taxation increases
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departure tax

  • noun a tax that is levied when you are departing a country by land or sea or air
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Direct tax

  • noun a tax paid directly by the person or organization on whom it is levied
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  • a tax assessed directly on lands, etc., and polls, distinguished from taxes on merchandise, or customs, and from excise.
Webster 1913

earnings before interest taxes depreciation and amortization

  • noun income before interest and taxes and depreciation and amortization have been subtracted; an indicator of a company's profitability that is watched by investors (especially in leveraged buyouts)
    EBITDA.
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estate tax

  • noun a tax on the estate of the deceased person
    death tax; death duty; estate tax.
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estimated tax

  • noun income tax paid periodically on income that is not subject to withholding taxes; based on the taxpayer's predicted tax liability
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estimated tax return

  • noun return required of a taxpayer whose tax withheld from income does not meet the tax liability for the year
    declaration of estimated tax.
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excise tax

  • noun a tax that is measured by the amount of business done (not on property or income from real estate)
    excise.
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federal tax lien

  • noun lien of the United States on all property of a taxpayer who fails to pay the federal government the taxes for which he or she is liable
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franchise tax

  • noun a tax that is imposed by states on corporations; it depends both on the net worth of the corporation and on its net income attributable to activities within the state
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gasoline tax

  • noun a tax on every gallon of gasoline sold
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gift tax

  • noun a tax imposed on transfers of property by gift during the lifetime of the giver
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graduated tax

  • noun any tax in which the rate increases as the amount subject to taxation increases
    graduated tax.
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hidden tax

  • noun a tax paid unwittingly by the consumer (such as ad valorem taxes)
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Income tax

  • noun a personal tax levied on annual income
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  • a tax upon a person's incomes, emoluments, profits, etc., or upon the excess beyond a certain amount.
Webster 1913

income tax bracket

  • noun a category of taxpayers based on the amount of their income
    income tax bracket; income bracket.
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income tax return

  • noun document giving the tax collector information about the taxpayer's tax liability
    return; income tax return.
    • his gross income was enough that he had to file a tax return
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Indirect tax

  • noun a tax levied on goods or services rather than on persons or organizations
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  • a tax, such as customs, excises, VAT,etc., exacted directly from the merchant, but paid indirectly by the consumer in the higher price demanded for the articles of merchandise.
Webster 1913

inheritance tax

  • noun a tax on the estate of the deceased person
    death tax; death duty; estate tax.
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land tax

  • noun a capital tax on property imposed by municipalities; based on the estimated value of the property
    land tax.
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license tax

  • noun a fee paid to the government for the privilege of being licensed to do something (as selling liquor or practicing medicine)
    licensing fee; license fee.
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nuisance tax

  • noun a tax based on the cost of the item purchased and collected directly from the buyer
    nuisance tax.
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Poll tax

  • noun a tax of a fixed amount per person and payable as a requirement for the right to vote
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  • a tax levied by the head, or poll; a capitation tax.
Webster 1913

progressive tax

  • noun any tax in which the rate increases as the amount subject to taxation increases
    graduated tax.
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property tax

  • noun a capital tax on property imposed by municipalities; based on the estimated value of the property
    land tax.
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proportional tax

  • noun any tax in which the rate is constant as the amount subject to taxation increases
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sales tax

  • noun a tax based on the cost of the item purchased and collected directly from the buyer
    nuisance tax.
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single tax

  • noun a system of taxation in which a tax is levied on a single commodity (usually land)
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stamp tax

  • noun a tax collected by requiring a stamp to be purchased and attached (usually on documents or publications)
    stamp duty.
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state tax lien

  • noun a lien on the property of a taxpayer that the tax collector can use upon default of payment of taxes
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tax advantage

  • noun an advantage bestowed by legislation that reduces a tax on some preferred activity
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tax assessment

  • noun the value set on taxable property
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tax assessor

  • noun an official who evaluates property for the purpose of taxing it
    assessor.
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tax avoidance

  • noun the minimization of tax liability by lawful methods
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tax base

  • noun collective value of taxable assets
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tax benefit

  • noun a tax deduction that is granted in order to encourage a particular type of commercial activity
    tax benefit.
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tax bill

  • noun money owed for taxes
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tax boost

  • noun the amount by which taxes are increased
    tax hike; tax boost.
    • a tax increase of 15 percent
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tax bracket

  • noun a category of taxpayers based on the amount of their income
    income tax bracket; income bracket.
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tax break

  • noun a tax deduction that is granted in order to encourage a particular type of commercial activity
    tax benefit.
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Tax cart

  • a spring cart subject to a low tax. Eng.
Webster 1913

tax collection

  • noun the collection of taxes
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tax collector

  • noun someone who collects taxes for the government
    exciseman; internal revenue agent; taxman; collector of internal revenue.
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tax credit

  • noun a direct reduction in tax liability (not dependent on the taxpayer's tax bracket)
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tax cut

  • noun the act of reducing taxation
    • the new administration's large tax cut was highly controversial
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tax deduction

  • noun a reduction in the gross amount on which a tax is calculated; reduces taxes by the percentage fixed for the taxpayer's income bracket
    deduction; tax deduction.
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tax evasion

  • noun the deliberate failure to pay taxes (usually by making a false report)
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tax form

  • noun a form to use when paying your taxes
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tax haven

  • noun a country or independent region where taxes are low
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tax hike

  • noun the amount by which taxes are increased
    tax hike; tax boost.
    • a tax increase of 15 percent
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tax income

  • noun government income due to taxation
    taxation; tax income; revenue.
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tax law

  • noun the body of laws governing taxation
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tax liability

  • noun the amount of tax owed; calculated by applying the tax rate to the tax base
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tax lien

  • noun lien of which a tax collector may avail himself in default of taxes (analogous to a judgment lien)
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tax policy

  • noun a program for setting taxes
    tax policy.
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tax program

  • noun a program for setting taxes
    tax policy.
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tax rate

  • noun rate used to calculate tax liability
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tax return

  • noun document giving the tax collector information about the taxpayer's tax liability
    return; income tax return.
    • his gross income was enough that he had to file a tax return
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tax revenue

  • noun government income due to taxation
    taxation; tax income; revenue.
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tax shelter

  • noun a way of organizing business to reduce the taxes it must pay on current earnings
    shelter.
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tax system

  • noun a legal system for assessing and collecting taxes
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tax write-off

  • noun a reduction in the gross amount on which a tax is calculated; reduces taxes by the percentage fixed for the taxpayer's income bracket
    deduction; tax deduction.
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tax-exempt

  • noun a security that is not subject to taxation
    tax-exempt.
  • adjective satellite (of goods or funds) not taxed
    untaxed; tax-exempt.
    • tax-exempt bonds
    • an untaxed expense account
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tax-exempt security

  • noun a security that is not subject to taxation
    tax-exempt.
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tax-free

  • adjective satellite (of goods or funds) not taxed
    untaxed; tax-exempt.
    • tax-exempt bonds
    • an untaxed expense account
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tax-increase

  • noun the amount by which taxes are increased
    tax hike; tax boost.
    • a tax increase of 15 percent
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To abate a tax

  • to remit it either wholly or in part.
Webster 1913

transfer tax

  • noun any tax levied on the passing of title to property
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value-added tax

  • noun a tax levied on the difference between a commodity's price before taxes and its cost of production
    ad valorem tax; VAT.
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Window tax

  • a tax or duty formerly levied on all windows, or openings for light, above the number of eight in houses standing in cities or towns. Eng.
Webster 1913

withholding tax

  • noun income tax withheld from employees' wages and paid directly to the government by the employer
    withholding.
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