Definition, Meaning & Synonyms

tax-bite

Noun

/tæks baɪt/

Definition

The amount of money taken from an individual’s or entity’s income by the government as tax.

Examples

After calculating her tax-bite, she realized she needed to adjust her budget for the year.
The new tax reforms affected the tax-bite significantly for small businesses.
He was surprised by how much of his paycheck went to tax-bite.

Meaning

A tax-bite refers to the financial impact of taxation on an individual or business. It represents how much of one’s earnings are used to fulfill tax obligations.