Taxation Terminology

noun an internal tax imposed on the production, sale, or consumption of a commodity within a country

verb to impose an excise on

• The government decided to excise certain items from the budget in order to reduce spending.
• I heard they're going to excise some unnecessary expenses from the budget.
• They're gonna cut out some stuff from the budget to excise the waste.
• Sometimes we need to excise toxic people from our lives in order to move forward.

noun a tax levied on income, especially on personal income

• Individuals are required to report their income tax to the government annually.
• Don't forget to file your income tax before the deadline!
• I hate paying my income tax, it's such a drag.
• Paying income tax is like giving a portion of your hard-earned money to the government.

noun a tax or burden that is too heavy or excessive

verb to impose too heavy a tax or burden on someone or something

• The government should not overtly overtax its citizens.
• I heard they're planning to really overtax us next year.
• I can't believe they're gonna overtly tax us so much!
• Her workload was already overwhelming, adding more tasks would overtly overtax her.

verb Paying is a verb that refers to giving money in exchange for goods or services.

• The company is currently paying all its employees on a bi-weekly basis.
• I hate paying bills every month, it's such a hassle.
• I'm tired of paying for everything, let's split the cost this time.
• Success is like paying your dues - you have to put in the work before you see results.

noun a punishment imposed for breaking a law, rule, or contract

• The penalty for late submission of the assignment is a deduction of 10% of the total marks.
• If you don't pay your bills on time, you'll incur a penalty.
• I got a penalty for speeding on the highway.
• There is a heavy penalty for betraying your friends and family.

noun a written acknowledgment of having received something

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• Please make sure to keep your receipt as proof of purchase.
• Hey, don't forget to grab your receipt before you leave.
• I always ask for a receipt just in case something goes wrong.
• Her smile was like a receipt of happiness, impossible to ignore.

noun a person who flouts the law, especially by failing to comply with a law that is difficult to enforce effectively

• The city council passed a new ordinance to crack down on scofflaws who ignore parking regulations.
• Don't be a scofflaw and park in the no parking zone.
• The scofflaw got caught speeding on the highway.
• He was known as the office scofflaw for always bending the rules.

noun a tax imposed on top of an existing tax

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• The government imposed a surtax on luxury goods in order to generate additional revenue.
• I can't believe how much surtax they added to my phone bill this month.
• I'm so fed up with all these sneaky surtaxes on everything we buy.
• The emotional toll of the breakup felt like a surtax on my already stressed-out mind.

noun a person who collects taxes on behalf of the government

• The tax collector came to our office to collect the quarterly payments.
• I heard the tax collector is making his rounds in the neighborhood today.
• Watch out for the tax collector, he's on the hunt for unpaid taxes.
• The tax collector of consequences will come knocking if you don't pay your dues.

noun a form on which a taxpayer makes an annual statement of income and personal circumstances, used by the tax authorities to assess liability for tax.

• It is important to accurately report all income and deductions on your tax return.
• Don't forget to file your tax return before the deadline!
• I dread doing my tax return every year.
• Completing my tax return feels like solving a puzzle.

noun A tax imposed on products such as alcohol, tobacco, and gambling, which are considered to be harmful to society

• The government implemented a sin tax on tobacco products to discourage smoking.
• I heard they're adding a sin tax to alcohol next year.
• Man, these sin taxes are killing my wallet!
• The sin tax on sugary drinks is like a penalty for indulging in unhealthy habits.

adjective describing something that is not subject to taxation

• Certain items purchased by nonprofit organizations may be nontaxable.
• Hey, did you know that gift cards are nontaxable?
• I love shopping online because most of the time the items are nontaxable!
• Her kindness towards others is like a nontaxable gift that keeps on giving.

noun A word that refers to a person, place, thing, event, substance, or quality.

• The government has proposed an additional tax on luxury goods.
• I just found out I have to pay an additional tax on my new car.
• I can't believe they're hitting us with another tax!
• Dealing with that situation was like being hit with an additional tax on top of everything else.