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 company was offered the Advantage Arkansas income tax credit and a sales and use tax refund under the state's Tax Back Program, according to Tyler Hale, communications officer for the commission. —Arkansas Online, 24 Sep. 2025

But plenty of people still request a paper check for their federal income tax refunds. —Susan Tompor, Freep.com, 24 Sep. 2025

In his typical style, one of brevity and striking charts, Slok added that the figure equates to roughly 18% of annual household income tax payments, underscoring that tariffs are not a marginal tool but a significant revenue source shaping America’s economic and trade landscape. —Nick Lichtenberg, Fortune, 22 Sep. 2025

This could require changes in state law that put California sales and income tax revenues at risk. —Marc Joffe, Oc Register, 22 Sep. 2025

Word History

First Known Use

1799, in the meaning defined above

Rhymes for income tax

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

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