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1.
The extra money given to fellow pimps when payment to them is due as a sign of respect and allegiance. Commonly used in board games where money is involved.
Originated from the shire of Shrop by a skinny badman.
Whilst playing monoplay:
Pimp 1: "aww man, I just landed on mayfair"
Pimp 2: "don't forget to pay me pimp tax too"

A while later:
Faggot 1: "ahh shit, I'm broke"
Pimps : "ahahahaha, should of paid Pimp Tax Noob!"
by RiskyNanaMan December 17, 2010
 
2.
1. The money or revenue that a hoe owes to his/her respective pimp.
2. (This happens most often with women) A person who "taxes" their friend(s)/stalker(s)/lover(s) for hanging out with them/being seen with them. This usually happens when one person likes the other but the feelings aren't mutual. Thus, the person who is being pursued uses the other person to his/her advantage; most likely collecting money or gifts from them.

(A true pimp never files his/her own pimp taxes.)
Pimp ABC: "I did a pimp stroll over to the hoe that owed me some chedda. She was holdin' back so I pimp-punched the bitch and collected my pimp tax."
by Yonas One March 19, 2008