tax liability (Meaning)
Wordnet
tax liability (n)
the amount of tax owed; calculated by applying the tax rate to the tax base
Synonyms & Antonyms of tax liability
No Synonyms and anytonyms found
tax liability Sentence Examples
- Individuals and businesses are obligated to pay their tax liability on time to avoid penalties.
- The corporation's financial statements reported a significant increase in its tax liability for the year.
- The tax liability can be reduced through deductions, credits, and exemptions.
- The company's tax liability has been increasing steadily over the past few years.
- The accountant calculated the estimated tax liability for the upcoming tax season.
- The government has introduced new tax laws that will affect the tax liability of many taxpayers.
- The taxpayer's tax liability is determined by their income, deductions, and tax bracket.
- The annual tax liability for the organization amounted to millions of dollars.
- The tax liability for property owners can vary depending on the location and value of their property.
- The tax liability of a trust is calculated based on the trust's income and distributions.
FAQs About the word tax liability
the amount of tax owed; calculated by applying the tax rate to the tax base
No synonyms found.
No antonyms found.
Individuals and businesses are obligated to pay their tax liability on time to avoid penalties.
The corporation's financial statements reported a significant increase in its tax liability for the year.
The tax liability can be reduced through deductions, credits, and exemptions.
The company's tax liability has been increasing steadily over the past few years.
