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

Tax provisions in the One Big Beautiful Bill Act passed last year included several tax breaks and income tax reductions. —Tristan Bove, Fortune, 6 Feb. 2026

Stimulus measures tied to the One Big Beautiful spending bill passed last year are expected to provide a boost to income tax rebates that will help individuals, along with deregulation and expensing provisions aimed at businesses. —Jeff Cox, CNBC, 6 Feb. 2026

In California, the deadline to file both state and federal income tax returns for the 2025 tax year is Wednesday, April 15. —Sacbee.com, 6 Feb. 2026

Mamdani also noted their political differences, particularly regarding an income tax hike on wealthy residents and businesses. —David Zimmermann, The Washington Examiner, 5 Feb. 2026

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