tax

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tax

a compulsory financial contribution imposed by a government to raise revenue, levied on the income or property of persons or organizations, on the production costs or sales prices of goods and services, etc.
References in periodicals archive ?
This is not merely a theoretical possibility, as many states experienced this problem in the 1840s, leading them to modify their constitutions and substitute hard budget constraints for the previous taxless finance (Wallis 2005).
Some might hold that such organizations would be significantly less present in a taxless world.
In a taxless world, decisions on capital allocation are based on the expected returns to an investment.