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Profit vs Tax - What's the difference?

profit | tax |

As nouns the difference between profit and tax

is that profit is profit while tax is money paid to the government other than for transaction-specific goods and services.

As a verb tax is

to impose and collect a tax from (a person).

profit

English

(wikipedia profit)

Noun

(en noun)
  • Total income or cash flow minus expenditures. The money or other benefit a non-governmental organization or individual receives in exchange for products and services sold at an advertised price.
  • * Rambler
    • Let no man anticipate uncertain profits .
  • * {{quote-magazine, date=2013-06-22, volume=407, issue=8841, page=68, magazine=(The Economist)
    • , title= T time , passage=The ability to shift profits' to low-tax countries by locating intellectual property in them, which is then licensed to related businesses in high-tax countries, is often assumed to be the preserve of high-tech companies. […] current tax rules make it easy for all sorts of firms to generate […] “stateless income”: ' profit subject to tax in a jurisdiction that is neither the location of the factors of production that generate the income nor where the parent firm is domiciled.}}
  • (dated, literary) Benefit, positive result obtained.
  • * Bible, 1 Corinthians vii. 35
    • This I speak for your own profit .
  • * Shakespeare
    • if you dare do yourself a profit and a right
  • (legal) In property law, a nonpossessory interest in land whereby a party is entitled to enter the land of another for the purpose of taking the soil or the substance of the soil (coal, oil, minerals, and in some jurisdictions timber and game).

    • Usage notes

    Regarding the income sense, when the difference is negative the term loss is correct. Negative profit does appear in microeconomics. Profit by a government agency is called a surplus.

    Synonyms

    * gain

    Antonyms

    * loss

    Verb

    (en verb)
  • To benefit (somebody), be of use to (somebody).
  • * Bible, Hebrews iv. 2
    • The word preached did not profit them.
  • * Dryden
    • It is a great means of profiting yourself, to copy diligently excellent pieces and beautiful designs.
  • To benefit, gain.
  • To take advantage of, exploit, use.

    • Derived terms

    * book profit * for-profit * for fun and profit * nonprofit * not-for-profit * paper profit * profit from * profitable * profitably * profiteer * profit margin * profit sharing * profit taking

    Related terms

    * proficiency * proficient

    External links

    * * ----

    tax

    English

    (wikipedia tax)

    Noun

  • Money paid to the government other than for transaction-specific goods and services.
  • * {{quote-magazine, date=2013-05-17
    • , author=George Monbiot, authorlink=George Monbiot , title=Money just makes the rich suffer , volume=188, issue=23, page=19 , magazine=(The Guardian Weekly) citation , passage=In order to grant the rich these pleasures, the social contract is reconfigured. […]  Essential public services are cut so that the rich may pay less tax . The public realm is privatised, the regulations restraining the ultra-wealthy and the companies they control are abandoned, and Edwardian levels of inequality are almost fetishised.}}
  • A burdensome demand.
    • a heavy tax on time or health
  • A task exacted from one who is under control; a contribution or service, the rendering of which is imposed upon a subject.
  • (obsolete) charge; censure
    • (Clarendon)
  • (obsolete) A lesson to be learned.
    • (Johnson)

    Synonyms

    * (money paid to government) impost, tribute, contribution, duty, toll, rate, assessment. exaction, custom, demand, levy

    Antonyms

    * (money paid to government) subsidy

    Hyponyms

    (types of taxes) * church tax * corporation tax * duty * estate tax * excise * excise tax * gift tax * goods and services tax * gross receipts tax * head tax * income tax * inheritance tax * land tax * poll tax * property tax * personal property tax * real property tax * sales tax * sin tax * sumptuary tax * transfer tax * use tax * utilities tax * value added tax

    Coordinate terms

    (other government revenues) * fine * license fee * penalty * seignorage * user charge

    Derived terms

    * tax collector * tax haven * tax hike * taxman * tax free * tax rise * taxes due * taxpayer

    Verb

    (es)
  • To impose and collect a tax from (a person).
    • Some think to tax the wealthy is the fairest.
  • To impose and collect a tax on (something).
    • Some think to tax wealth is destructive of a private sector.
  • To make excessive demands on.
  • * Do not tax my patience.
  • * '>citation

    • Derived terms

    * taxable * taxation