a tax on certain goods or services not considered essential and usually relatively high in price.
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2023
How to use luxury tax in a sentence
What’s more, bringing on his contract required the Celtics to ship starting center Daniel Theis to the Bulls so that they could avoid paying the luxury tax.The NBA’s trade deadline has come and gone. Who won and who lost? | Ben Golliver | March 26, 2021 | Washington Post
Adding Fournier’s salary with a trade exception led Boston to ship out Theis, a quality glue guy, so that it could duck under the luxury tax line.NBA trade deadline: Nikola Vucevic, Victor Oladipo headed to new teams as Kyle Lowry stays put | Ben Golliver | March 25, 2021 | Washington Post
With Boston dealing with unbalanced lineups and needing to get under the luxury tax after acquiring Evan Fournier from the Orlando Magic just before the deadline, Theis became the odd man out.NBA trade deadline: Nikola Vucevic, Victor Oladipo headed to new teams as Kyle Lowry stays put | Ben Golliver | March 25, 2021 | Washington Post
NHL teams are subjected to a hard salary cap limit, meaning they don’t even have the option to go over the limit and pay a luxury tax.The Tampa Bay Lightning Are Skating It Back By Sliding Just Under The Salary Cap | Julian McKenzie | February 2, 2021 | FiveThirtyEight
If the NBA loses out on 40 percent of its revenue because fans can’t safely attend games in person, taxpaying teams will see their luxury tax bills drop by 40 percent.NBA sets salary cap, free agency start date for 2020-21 season | Ben Golliver | November 10, 2020 | Washington Post