Tax vs. Penalty — What's the Difference?
Difference Between Tax and Penalty
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Compare with Definitions
Tax
A tax is a compulsory financial charge or some other type of levy imposed on a taxpayer (an individual or legal entity) by a governmental organization in order to fund government spending and various public expenditures. A failure to pay, along with evasion of or resistance to taxation, is punishable by law.
Penalty
A punishment imposed for a violation of law.
Tax
A compulsory contribution to state revenue, levied by the government on workers' income and business profits, or added to the cost of some goods, services, and transactions
A tax bill
Higher taxes will dampen consumer spending
A tax on fuel
Tax cuts
They will have to pay tax on interest earned by savings
Penalty
A sum established by a contract to be forfeited in lieu of actual damages in the event of a breach of the contract.
Tax
A strain or heavy demand
A heavy tax on the reader's attention
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Penalty
The disadvantage or painful consequences resulting from an action or condition
Neglected his health and paid the penalty.
Tax
Impose a tax on (someone or something)
The income will be taxed at the top rate
Penalty
A punishment, handicap, or loss of advantage imposed on a team or competitor for infraction of a rule.
Tax
Make heavy demands on (someone's powers or resources)
She knew that the ordeal to come must tax all her strength
Penalty
An infraction of a rule; a foul.
Tax
Confront (someone) with a fault or wrongdoing
Why are you taxing me with these preposterous allegations?
Penalty
A penalty kick.
Tax
Examine and assess (the costs of a case)
An officer taxing a bill of costs
Penalty
A penalty shot.
Tax
A contribution for the support of a government required of persons, groups, or businesses within the domain of that government.
Penalty
(Games) Points scored in contract bridge by the opponents when the declarer fails to make a bid.
Tax
A fee or dues levied on the members of an organization to meet its expenses.
Penalty
A legal sentence.
The penalty for his crime was to do hard labor.
Tax
A burdensome or excessive demand; a strain.
Penalty
A punishment for violating rules of procedure.
Tax
To place a tax on (income, property, or goods).
Penalty
(finance) A payment forfeited for an early withdrawal from an account or an investment.
Tax
To exact a tax from
Taxed the people.
Penalty
In sports
Tax
(Law) To assess (court costs, for example).
Penalty
(football) A direct free kick from the penalty spot, taken after a defensive foul in the penalty box; a penalty kick.
Tax
To make difficult or excessive demands upon
A boss who taxed everyone's patience.
Penalty
(ice hockey) A punishment for an infraction of the rules, often in the form of being removed from play for a specified amount of time.
A penalty was called when he tripped up his opponent.
Tax
To accuse; confront
Taxed him with ingratitude.
Penalty
A disadvantageous consequence of a previous event.
Tax
To hold accountable
The contractor was taxed with the mistake of the subcontractor.
Penalty
Penal retribution; punishment for crime or offense; the suffering in person or property which is annexed by law or judicial decision to the commission of a crime, offense, or trespass.
Death is the penalty imposed.
Tax
Money paid to the government other than for transaction-specific goods and services.
Penalty
The suffering, or the sum to be forfeited, to which a person subjects himself by covenant or agreement, in case of nonfulfillment of stipulations; forfeiture; fine.
The penalty and forfeit of my bond.
Tax
A burdensome demand.
A heavy tax on time or health
Penalty
A handicap.
Tax
A task exacted from one who is under control; a contribution or service, the rendering of which is imposed upon a subject.
Penalty
The act of punishing
Tax
(obsolete) charge; censure
Penalty
A payment required for not fulfilling a contract
Tax
(transitive) To impose and collect a tax from (a person or company).
Some think to tax the wealthy is the fairest.
Penalty
The disadvantage or painful consequences of an action or condition;
Neglected his health and paid the penalty
Tax
(transitive) To impose and collect a tax on (something).
Some think to tax wealth is destructive of a private sector.
Penalty
(games) a handicap or disadvantage that is imposed on a competitor (or a team) for an infraction of the rules of the game
Tax
(transitive) To make excessive demands on.
Do not tax my patience.
Tax
(transitive) To accuse.
Tax
(transitive) To examine accounts in order to allow or disallow items.
Tax
A charge, especially a pecuniary burden which is imposed by authority.
Tax
A charge or burden laid upon persons or property for the support of a government.
A farmer of taxes is, of all creditors, proverbially the most rapacious.
Tax
A task exacted from one who is under control; a contribution or service, the rendering of which is imposed upon a subject.
Tax
Especially, the sum laid upon specific things, as upon polls, lands, houses, income, etc.; as, a land tax; a window tax; a tax on carriages, and the like.
Tax
A disagreeable or burdensome duty or charge; as, a heavy tax on time or health.
Tax
A sum imposed or levied upon the members of a society to defray its expenses.
Tax
Charge; censure.
Tax
A lesson to be learned; a task.
Tax
To subject to the payment of a tax or taxes; to impose a tax upon; to lay a burden upon; especially, to exact money from for the support of government.
We are more heavily taxed by our idleness, pride, and folly than we are taxed by government.
Tax
To assess, fix, or determine judicially, the amount of; as, to tax the cost of an action in court.
Tax
To charge; to accuse; also, to censure; - often followed by with, rarely by of before an indirect object; as, to tax a man with pride.
I tax you, you elements, with unkindness.
Men's virtues I have commended as freely as I have taxed their crimes.
Fear not now that men should tax thine honor.
Tax
Charge against a citizen's person or property or activity for the support of government
Tax
Levy a tax on;
The State taxes alcohol heavily
Clothing is not taxed in our state
Tax
Set or determine the amount of (a payment such as a fine)
Tax
Use to the limit;
You are taxing my patience
Tax
Make a charge against or accuse;
They taxed him failure to appear in court
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