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

Proposition 3 asks California voters whether to make permanent a temporary income tax on the state’s highest earners to help fund education. — Naomi Taxay, Sacbee.com, 8 Sep. 2026

The tax credit could be used to offset federal income tax, or be sold to another taxpayer to offset their tax liability. — Gene Maddaus, Variety, 8 Sep. 2026

Different states offer various levels of asset protection, dynasty trust planning, governing law, trust administration and state income tax benefits, lawyers said. — Medora Lee, USA Today, 6 Sep. 2026

Increasing production capacity The Polish Investment Zone, introduced under Poland’s 2018 Act on Supporting New Investments, allows businesses making new investments in the country to qualify for income tax exemptions. — Maria Mocerino, Interesting Engineering, 6 Sep. 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