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

Also, while a flat income tax is the same for everyone, its real-world impact isn’t the same. — Michael McCann, Sportico.com, 12 Nov. 2026

That law throttles property tax revenues for local government, offering municipalities the safety valve of enacting their own local income tax. — Shelley Jones, Chicago Tribune, 12 Nov. 2026

By contrast, investments held for one year or less are short-term gains, subject to regular income tax rates. — Kate Dore, Cfp®, Ea, CNBC, 10 Nov. 2026

Billionaires including Jeff Bezos, Ken Griffin, Mark Zuckerberg, Larry Page, and Sergey Brin have spent hundreds of millions of dollars on South Florida estates, drawn by no state income tax, the lifestyle, and the business climate. — Sydney Lake, Fortune, 10 Nov. 2026

Word History

First Known Use

1799, in the meaning defined above

Rhymes for income tax

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

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