a tax based on capital, as distinguished from a tax on income.
Capital vs. CapitolCapital and capitol are both commonly used in political contexts and are separated by just one letter, making them frustratingly easy to confuse. When it comes to these two terms, it’s important to note that one has a number of meanings while the other refers to a certain type of building. Capital has many definitions. It can mean “the wealth owned or employed in business …
Origin of capital levy
First recorded in 1915–20
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2019
British Dictionary definitions for capital levy
a tax on capital or property as contrasted with a tax on income
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012