The Collaborative International Dictionary of English v.0.48:

Taoism \Ta"o*ism\, n.
   One of the popular religions of China, sanctioned by the
   state. -- Ta"o*ist, a. & n.
   [1913 Webster]

WordNet (r) 3.0 (2006):

Taoism
    n 1: a Chinese sect claiming to follow the teaching of Lao-tzu
         but incorporating pantheism and sorcery in addition to
         Taoism
    2: religion adhering to the teaching of Lao-tzu
    3: popular Chinese philosophical system based in teachings of
       Lao-tzu but characterized by a pantheism of many gods and the
       practices of alchemy and divination and magic [syn: Taoism,
       Hsuan Chiao]
    4: philosophical system developed by Lao-tzu and Chuang-tzu
       advocating a simple honest life and noninterference with the
       course of natural events [syn: Taoism, Daoism]