taxation

American  

[tak-sey-shuhn] / tækˈseɪ ʃən /

noun

1. the act of taxing. tax.

2. the fact of being taxed.

3. a tax imposed.

4. the revenue raised by taxes. taxis. tax.

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taxation British  

/ tækˈseɪʃən /

noun

1. the act or principle of levying taxes or the condition of being taxed

2. 1. an amount assessed as tax

   2. a tax rate

3. revenue from taxes

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taxation Cultural  

1. A government's practice of collecting money from citizens and businesses within its domain to support its operations.

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Usage

What is taxation? Taxation is the act of making people and organizations pay taxes.Taxation is how a government collects money (taxes) in order to financially support itself. Governments use the money collected from citizens to pay for welfare programs, the military, roads and bridges, government employees, science programs, public schools, and the many other services a government is responsible for. Almost every country on Earth has some form of taxation system.Taxation is not voluntary, even if the taxpayer doesn’t directly benefit from the tax they pay. You cannot refuse to pay taxes without consequences. In most countries, you will be jailed or suffer another punishment for not paying taxes.

Other Word Forms

• antitaxation adjective
• nontaxation noun
• protaxation adjective
• retaxation noun
• self-taxation noun
• taxational adjective

Etymology

Origin of taxation

1250–1300; < Medieval Latin taxātiōn- (stem of taxātiō ) an appraising ( tax, -ation ); replacing Middle English taxacioun < Anglo-French < Medieval Latin, as above

Example Sentences

Many Americans in this 250th year of independence will look back proudly on those colonials who rebelled against British taxation by dumping tea in Boston Harbor.

From The Wall Street Journal

He also writes frequently about corporate taxation and the Internal Revenue Service.

From The Wall Street Journal

The accord left the Treasury in charge of government spending and taxation, or fiscal policy.

From Barron's

As much as 85% of Social Security benefits can be subject to taxation, depending on taxpayers’ overall income.

From MarketWatch

People said he treated the taxation laws as entirely optional, but he would make a fair deal where the need was real.

From Literature

Related Words

• duty
• tariff
• tax
• tax collection