State taxes revised (5)
I believe the answer is:
texas
'state' is the definition.
(Texas is an example)
'taxes revised' is the wordplay.
'revised' indicates an anagram.
'taxes' with letters rearranged gives 'TEXAS'.
(Other definitions for texas that I've seen before include "Second-largest US state by area" , "State on the Gulf of Mexico" , "Large US state" , "American state, capital Austin" , "28th US state" .)