: 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.
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The charges include six felony counts of failure to file personal income tax with the intent to evade tax and six felony counts of failure to file corporate income tax with the intent to evade tax.—Alejandra Gularte, Vulture, 19 June 2026 That would deal a huge blow to a state that relies on its top 1% of earners for nearly half its personal income tax revenue.—Sophie Austin, Los Angeles Times, 19 June 2026 However, taxpayers in the highest tax bracket will pay taxes on this income at a 37% federal income tax rate.—Nathan Goldman, Forbes.com, 19 June 2026 Lamont also signed the largest income tax cut in state history into law in 2023, delivering about $300 in annual relief to many middle-income households.—Keith M. Phaneuf, Hartford Courant, 19 June 2026 See All Example Sentences for income tax