Tax vs. Penalty

Taxnoun

Money paid to the government other than for transaction-specific goods and services.

Penaltynoun

A legal sentence.

‘The penalty for his crime was to do hard labor.’;

Taxnoun

A burdensome demand.

‘a heavy tax on time or health’;

Penaltynoun

A punishment for violating rules of procedure.

Taxnoun

A task exacted from one who is under control; a contribution or service, the rendering of which is imposed upon a subject.

Penaltynoun

(finance) A payment forfeited for an early withdrawal from an account or an investment.

Taxnoun

(obsolete) charge; censure

Penaltynoun

(football) A direct free kick from the penalty spot, taken after a defensive foul in the penalty box; a penalty kick.

Taxnoun

(obsolete) A lesson to be learned.

Penaltynoun

(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.’;

Taxverb

(transitive) To impose and collect a tax from (a person).

‘Some think to tax the wealthy is the fairest.’;

Penaltynoun

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.’;

Taxverb

(transitive) To impose and collect a tax on (something).

‘Some think to tax wealth is destructive of a private sector.’;

Penaltynoun

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.’;

Taxverb

(transitive) To make excessive demands on.

Penaltynoun

A handicap.

Taxnoun

A charge, especially a pecuniary burden which is imposed by authority.

Penaltynoun

the act of punishing

Taxnoun

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.’;

Penaltynoun

a payment required for not fulfilling a contract

Taxnoun

A task exacted from one who is under control; a contribution or service, the rendering of which is imposed upon a subject.

Penaltynoun

the disadvantage or painful consequences of an action or condition;

‘neglected his health and paid the penalty’;

Taxnoun

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.

Penaltynoun

(games) a handicap or disadvantage that is imposed on a competitor (or a team) for an infraction of the rules of the game

Taxnoun

A disagreeable or burdensome duty or charge; as, a heavy tax on time or health.

Taxnoun

A sum imposed or levied upon the members of a society to defray its expenses.

Taxnoun

Charge; censure.

Taxnoun

A lesson to be learned; a task.

Taxverb

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.’;

Taxverb

To assess, fix, or determine judicially, the amount of; as, to tax the cost of an action in court.

Taxverb

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.’;

Taxnoun

charge against a citizen's person or property or activity for the support of government

Taxverb

levy a tax on;

‘The State taxes alcohol heavily’; ‘Clothing is not taxed in our state’;

Taxverb

set or determine the amount of (a payment such as a fine)

Taxverb

use to the limit;

‘you are taxing my patience’;

Taxverb

make a charge against or accuse;

‘They taxed him failure to appear in court’;

Taxnoun

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’;

Taxnoun

a strain or heavy demand

‘a heavy tax on the reader's attention’;

Taxverb

impose a tax on (someone or something)

‘the income will be taxed at the top rate’;

Taxverb

pay tax on (something, especially a vehicle)

‘the Land Rover slowly disintegrates and no one has bothered to tax it’;

Taxverb

make heavy demands on (someone's powers or resources)

‘she knew that the ordeal to come must tax all her strength’;

Taxverb

confront (someone) with a fault or wrongdoing

‘why are you taxing me with these preposterous allegations?’;

Taxverb

examine and assess (the costs of a case)

‘an officer taxing a bill of costs’;

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.