income tax

noun

: a tax on the net income of an individual or a business

Examples of income tax in a Sentence

Federal income tax will be deducted from your pay. The new law will lower income taxes for most taxpayers.
Recent Examples on the Web Kelly has signaled any compromise will focus on income tax rates, as other changes, such as eliminating taxes on Social Security income, are non-controversial. Jonathan Shorman, Kansas City Star, 29 May 2024 Moreover, the recent removal of the wage cap on unemployment insurance payment subjects all wage income to the payroll tax, which means the state’s top marginal individual income tax rate on wage income (not all income) is now 14.4 percent. Robert Gutierrez, Orange County Register, 25 May 2024 See all Example Sentences for income tax 

These examples are programmatically compiled from various online sources to illustrate current usage of the word 'income tax.' Any opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback about these examples.

Word History

First Known Use

1799, in the meaning defined above

Time Traveler
The first known use of income tax was in 1799

Dictionary Entries Near income tax

Cite this Entry

“Income tax.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/income%20tax. Accessed 1 Jun. 2024.

Kids Definition

income tax

noun
ˈin-(ˌ)kəm-
: a tax on the income of a person or business

Legal Definition

income tax

noun
: a tax on the net income of an individual or a business compare excise, property tax
Last Updated: - Updated example sentences
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