Definition, Meaning & Synonyms
state-tax
noun
/steɪt tæk/
Definition
A tax levied by a state government on individual or corporate income and property.
Examples
- The state tax for individuals varies depending on their income level.
- Many businesses are required to register and pay state tax on their earnings.
- The new budget proposal includes adjustments to the state tax rate.
Meaning
State tax refers to financial charges imposed by state authorities to generate revenue for public services and infrastructure within the state. This can include income taxes, sales taxes, and property taxes.
Synonyms
- state levy
- state revenue charge
- state income tax
