Definitions
There is 1 meaning of the phrase
Tax Liability.
Tax Liability - as a noun
The amount of tax owed; calculated by applying the tax rate to the tax base
Example Sentences
"The company's tax liability for the year was more than anticipated."
"She was shocked to see her tax liability increase significantly after a change in tax laws."
"The tax liability of high-income individuals is subject to additional scrutiny."
"The accountant advised the client on strategies to minimize their tax liability."
"The business owner failed to report all income, resulting in a higher tax liability."
