progressive tax

progressive tax
Strictly, a tax which, as in the case of the federal income tax, applies higher rates progressively as the taxable amount increases. State ex rel. Foot v Bazille, 97 Minn 11, 106 NW 93. An excise or license tax on retail merchants computed on their gross sales at a percentage which increases with the volume of the taxpayer's business. Stewart Dry Goods Co. v Lewis, 294 US 550, 79 L Ed 1054, 55 S Ct 525, reh den 295 US 768, 79 L Ed 1709, 55 S Ct 652. Inclusive in the broad sense, of a graduated tax. See graduated tax.

Ballentine's law dictionary. . 1998.

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  • progressive tax — ➔ tax1 * * * progressive tax UK US noun [C, usually singular] TAX ► a tax in which the rate of tax is higher on larger amounts of money: »In a progressive tax system, rich people pay a higher percentage of their income as taxes than do poor… …   Financial and business terms

  • progressive tax — n. A tax that increases in rate as the amount of money being taxed increases; for example, $20,000 is taxed at 5 percent, $20,001 to $45,000 is taxed at 10 percent, and so on. Webster s New World Law Dictionary. Susan Ellis Wild. 2000. progres …   Law dictionary

  • Progressive tax — A progressive tax is a tax imposed so that the tax rate increases as the amount subject to taxation increases. [ [http://www.merriam webster.com/dictionary/Progressive Webster] (4b): increasing in rate as the base increases (a progressive tax)] [ …   Wikipedia

  • Progressive Tax — A tax that takes a larger percentage from the income of high income earners than it does from low income individuals. The United States income tax is considered progressive: in 2010, individuals who earned up to $8,375 fell into the 10% tax… …   Investment dictionary

  • progressive tax — noun any tax in which the rate increases as the amount subject to taxation increases • Syn: ↑graduated tax • Hypernyms: ↑tax, ↑taxation, ↑revenue enhancement * * * progressive tax UK US noun [singular] …   Useful english dictionary

  • progressive tax — Tax levied at a rate that increases as the quantity subject to taxation increases. Designed to collect a greater proportion of tax revenue from wealthy people, progressive taxes reflect the view that those who are able to pay more should carry a… …   Universalium

  • progressive tax — A tax in which the rate of tax increases with increases in the tax base In the UK, the most obvious such tax is income tax but progressive rates are also applied to National Insurance contributions, inheritance tax, and to a limited extent… …   Big dictionary of business and management

  • progressive tax — A tax in which the rate of tax increases with increases in the tax base. In the UK, the most obvious such tax is income tax but progressive rates are also applied to National Insurance contributions, inheritance tax, and to a limited extent… …   Accounting dictionary

  • progressive tax — A tax is said to be progressive if the percentage of an individual s income which is paid in tax increases as their income increases, so that the rich pay relatively more than the poor …   Dictionary of sociology

  • progressive tax — pro.gressive tax n [singular] a tax that takes more money from people with higher incomes than from people with lower incomes ≠ ↑regressive tax …   Dictionary of contemporary English

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