Definition of “Tax”

Tax (noun):

1. A financial charge: A compulsory contribution to state revenue, levied by the government on workers’ income and businesses’ profits, or added to the cost of some goods, services, and transactions.
   • Example: “Income tax is deducted from employees’ salaries.”
2. A burden or strain: Metaphorically, a tax can refer to a significant burden or stress on someone or something.
   • Example: “The job was a heavy tax on her patience.”

Tax (verb):

1. To impose a financial charge: To levy a tax on something or someone.
   • Example: “The government decided to tax luxury goods more heavily.”
2. To put a strain on: To use something to its maximum capacity or to impose a burden.
   • Example: “The long hours at work began to tax his health.”

Prepositions Used with “Tax”

• Tax on: Refers to the specific item, service, or activity being taxed.
  • Example: “There is a tax on imported goods.”
• Tax for: Refers to the purpose or reason for the tax.
  • Example: “The new tax for public transportation aims to improve infrastructure.”
• Tax at: Refers to the rate at which something is taxed.
  • Example: “The tax is set at 10% of the purchase price.”

Collocations with “Tax”

• Income tax: Tax on earnings from work or investments.
• Sales tax: Tax added to the price of goods and services at the point of sale.
• Property tax: Tax based on the value of property owned.
• Corporate tax: Tax on the profits of businesses.
• Tax bracket: A range of income levels subject to a specific rate of tax.
• Tax evasion: The illegal act of not paying taxes owed.
• Tax refund: A repayment of excess taxes paid by an individual or business.

Example Sentences

1. The government increased the income tax rate for high earners.
2. Sales tax is added to the total amount of your purchase at the checkout.
3. Property taxes are used to fund local public services.
4. Many companies seek to minimize their corporate tax liability.
5. Tax brackets determine the percentage of income tax owed based on earnings.
6. Tax evasion is a serious crime with significant penalties.
7. She received a tax refund after filing her annual tax return.
8. The new tax law will take effect starting next year.
9. The tax on sugary drinks aims to reduce consumption.
10. The business was audited for potential tax fraud.
11. He was surprised by the amount of tax withheld from his paycheck.
12. The local government relies on property taxes to fund schools and infrastructure.
13. Taxpayers are required to file their returns by April 15th.
14. The company benefits from tax incentives provided for green energy investments.
15. The tax reform bill was debated extensively before passing.
16. The tax rate for the top income bracket is significantly higher.
17. They struggled with tax debt after an unexpected financial loss.
18. The tax code is complex and can be challenging to navigate without professional help.
19. Tax deductions for charitable donations can reduce taxable income.
20. The new tax policy includes provisions for reducing tax on small businesses.
21. Tax season often leads to a surge in business for accountants.
22. The city council proposed a new tax on luxury vehicles.
23. The tax burden on middle-class families has been a topic of political debate.
24. She calculated her tax liability using an online tax calculator.
25. The government is considering a new tax on digital services.
26. The business’s tax returns were thoroughly reviewed by the IRS.
27. The tax hike on cigarettes aims to discourage smoking.
28. They received a tax credit for investing in renewable energy.
29. The tax rates vary significantly from one country to another.
30. He was penalized for late payment of his property taxes.
31. The company filed an appeal against the tax assessment.
32. Taxpayers can claim deductions for home office expenses.
33. The new tax code simplifies the filing process for individuals.
34. The charity benefited from a tax-exempt status.
35. The tax on imported goods is intended to protect domestic industries.
36. The accountant advised her on strategies to reduce her tax liability.
37. The tax reform included adjustments to corporate tax rates.
38. The tax revenue will be used to improve public transportation.
39. The government imposed a tax on high-calorie foods.
40. The business claimed a tax deduction for research and development expenses.
41. The tax rate was adjusted to account for inflation.
42. The tax policy changes were well-received by small business owners.
43. The local taxes support community services and infrastructure.
44. The new tax law includes provisions for additional child credits.
45. Tax avoidance strategies must be legal and within the scope of the law.
46. The tax reform aimed to simplify the tax filing process for individuals.
47. She was audited for discrepancies in her reported tax deductions.
48. The tax on online purchases varies by state.
49. The government is considering a new tax on financial transactions.
50. The tax policy debate highlighted the need for reform in the system.