tax (redirected from tax system)

tax,

n a ratable portion of the proceeds or value of the property and labor of the citizen; any contribution imposed by government for the use and service of the state.

tax brackets,

n.pl the income intervals of the graduated income tax law that establish the rate of tax for each level of income.

Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA),

n.pr legislation (Public Law 97-248) affecting health maintenance organizations and the Medicare and Medicaid programs. Provides regulations for the development of HMO risk contracting with the Medicare program and, through an amendment, establishes new provisions for the foundation and operation of peer review organizations.

tax planning,

n making business and investment decisions based on estimated income and current and projected tax laws.

tax shelter investments,

n.pl investments that reduce, remove, or defer income from state and federal income tax liability.

---

tax

Vox populi Monies paid to a governing body. See Dean's tax, Fat tax, Provider tax, Sin tax.