: 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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Since that can have important income tax implications, and because the potential impact of different valuations on beneficiaries, many CPAs or other tax preparers (e.g., the attorney handling the estate) opt to get real numbers.—Martin Shenkman, Forbes.com, 19 May 2025 The package would cut taxes deeply – essentially making permanent the sweeping individual income tax provisions of Trump’s 2017 Tax Cuts and Jobs Act, as well as adding several temporary tax breaks to fulfill the president’s campaign promises.—Elisabeth Buchwald, CNN Money, 16 May 2025 Columbia also has the lowest income tax rate in Missouri, which covers most filers.—Joseph Hernandez, Kansas City Star, 14 May 2025 Only about half of Social Security recipients pay no income tax on their benefits because their taxable incomes are too low.—David Lightman, Sacbee.com, 14 May 2025 See All Example Sentences for income tax
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