takˈsāshən noun
( -s )
Etymology: Middle English taxacioun, from Middle French taxation, from Medieval Latin taxation-, taxatio, from Latin, evaluation, appraisal from taxatus (past participle of taxare ) + -ion-, -io -ion
1. : the action of taxing: as
a. : the imposing of taxes on the subjects of a state by government or on the members of a corporation or company by the proper authority
b. : the act of assessing judicially (as a bill of costs)
2. : an amount assessed or obtained by taxation : tax
3. : a system of raising revenue by the imposition of compulsory contributions — see double taxation