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

The penalty was not changed when income tax rates were reduced. — Bob Carlson, Forbes.com, 29 July 2026

The amendment would phase out Missouri’s income tax based on revenue growth triggers and increase sales and use tax to offset the loss of revenue. — Sophie Lindberg, Kansas City Star, 27 July 2026

Currently, a child can earn up to $2,700, and income above that amount would trigger income taxes based on the parents’ (or custodial parent’s) marginal income tax rate, rather than the child’s tax rate. — Terry Savage, Chicago Tribune, 26 July 2026

During the campaign, Elliott has called for cutting property taxes and instead hiking the state income tax. — Christopher Keating, Hartford Courant, 26 July 2026

Word History

First Known Use

1799, in the meaning defined above

Rhymes for income tax

• anticlimax
• counterattacks
• hemothorax
• mesothorax
• metathorax
• almanacs
• carrybacks
• haversacks
• lumberjacks
• maniacs
• microcracks
• minimax

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