income tax

income tax

noun

Definition of INCOME TAX

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

Examples of INCOME TAX

1. Federal income tax will be deducted from your pay.
2. The new law will lower income taxes for most taxpayers.

First Known Use of INCOME TAX

1799

Rhymes with INCOME TAX

battle-ax, direct tax, disclimax, estate tax, hidden tax, Japan wax, mineral wax, minimax, nuisance tax, parallax, prothorax, sealing wax, single tax, supertax, telefax, to the max