Levy
/ˈlev.i/
Definitions
- (v.) To impose or collect a tax, fee, or fine by legal authority.
The government decided to levy a new tax on luxury goods.
- (n.) An imposed tax, fee, or fine collected by legal authority.
The levy on imported goods increased their price.
Forms
- levies
- levied
- levying
Related terms
See also
Commentary
'Levy' often appears in formal legal and financial contexts, especially relating to taxation or enforcement of payment obligations.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.