Amount of money charged on an individual’s property or activity for the support of state or federal government (e.g., income tax, sales tax, school tax, state tax, use tax).
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To assess or determine judiciously the amount of levy for the support of certain government functions for public purposes. Also, a charge or burden usually pecuniary, laid upon persons or property for public purposes; a forced contribution of wealth to meet and public needs of a government.
Tag: MEDICAL
Tax and donations
State programs under which funds collected by the state through certain health care–related taxes and provider-related donations were used to effectively increase the amount of federal Medicaid reimbursement without a comparable increase in state Medicaid funding or provider payment levels.
Tax cap
Limit on income tax deductions for health insurance.
Tax Equity and Fiscal Responsibility Act (TEFRA)
Federal legislation passed in 1982 that raised tax revenue, instituted many provisions for managed care plans, set up Medicare payment limits, and added Medicare coverage for hospice care. It established that an employee or spouse age 65 to 69 years is entitled to the same health insurance benefits offered under the same conditions to younger employees and their spouses. TEFRA applies to employers with at least 20 full- or part-time employees. A TEFRA provision allowed states to extend Medicaid coverage to certain disabled children.
tax identification number (TIN)
See: employer identification number (EIN) .
Tax rate
Percentage of taxable earnings, up to the maximum tax base, that is paid for the health insurance tax.
Tax Reform Act of 1976
Allowed states to use the Social Security number in the administration of any tax, general public assistance, and driver’s license or motor vehicle registration laws.
Tax Reform Act of 1986
Required individuals who filed tax returns to include the taxpayer identification number, usually the Social Security number, of each dependent age 5 or older. The Act defined a highly compensated or key employee as follows: (1) directly or indirectly owns more than 5% interest in the company, (2) receives compensation from the company of more than $75,000, (3) is paid more than $50,000 and was among the top 20% of employees ranked by compensation, or (4) is at any time an officer and receives compensation that was more than 150% of the Section 415 defined-contribution dollar amount.
Tax saver
See: dependent-care spending account .
tax-deferred annuity (TDA)
See: Section 403(b) of the Internal Revenue Code .