The cost of a females sexual attention or wax, in the form of a costly date or activity. Traditionally the male pays for the act so he may get some action later on that night.
In order to have sex with Kim, Adam had to pay his Wax Tax in the form of her dinner at Red Lobster
by Jonnyjames June 8, 2016
Get the Wax Tax mug.
An old fashioned way to say you will:

1. have sexual intercourse, or

2. beat, destroy or annihilate your friend, foe or stranger in a serious or joking way
"You're weak, see, I'm rough hardcore
And even be down to give you a rematch
After I wax and tax that butt" - Guru

Friend 1: Yo! turn it on Mortal kombat I've been practicing!
Friend 2: Please, you bout to get this work, I'm about to wax and tax dat ass
by El Elemento May 30, 2015
Get the Wax and tax mug.