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 federal government adopted the modern income tax system in 1913, with the 16th Amendment. Daniel De Visé, USA TODAY, 15 Apr. 2024 Treasury said taxpayers using Direct File have claimed more than $30 million in income tax refunds thus far. Detroit Free Press, 12 Apr. 2024 The governor repeatedly blames the shortfall problem on a decision by the federal government to delay the deadline to file 2022 income tax returns from April to November of last year due to winter storms. Taryn Luna, Los Angeles Times, 11 Apr. 2024 Lawmakers ultimately opted to modestly increase revenue largely through fees without raising income tax, general sales taxes, corporate taxes or by creating a tax on online poker. Katie Shepherd, Washington Post, 9 Apr. 2024 Interestingly, taxes were adjusted for field productivity—a parallel to modern income tax brackets, with different categories established based on the amount of wealth incurred. Kate McMahon, Smithsonian Magazine, 3 Apr. 2024 The deficits were projected after the state ended residential rent tax collections starting in January 2025 and after the state underestimated the cost of passing a flat income tax. Taylor Seely, The Arizona Republic, 1 Apr. 2024 President Joe Biden’s latest budget proposal calls for a 25 percent minimum income tax on Americans with more than $100 million in wealth, in part to help fund Social Security and Medicare, among other policies meant to shrink income inequality. Christine Emba, The Atlantic, 1 Apr. 2024 In January, Kelly vetoed a tax package passed largely with Republican votes that would have set a single income tax rate. Jonathan Shorman, Kansas City Star, 10 Apr. 2024

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 25 Apr. 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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