income tax

noun

Definition of income tax

: 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 Immigrant tax filers with children age 6 or younger would for the first time be able to claim the state’s earned income tax credit for the working poor. Alexei Koseff, SFChronicle.com, "California set to approve coronavirus-era budget that mostly avoids deep cuts," 26 June 2020 Any individual income tax refunds issued after April 15 will be paid with interest, even though the tax-filing deadline has been extended to July 15. Richard Rubin, WSJ, "IRS Will Pay Interest on Late Refunds—Even for Those Who Haven’t Filed Yet," 24 June 2020 Revenues in April were doubly depressed because the federal government, with states following suit, moved tax-filing day from April to July, causing uncertainty about when income tax will be paid. The Economist, "The state-budget train crash," 18 June 2020 Orlando’s sunny, family-friendly, and has no state income tax. The Atlantic, "Listen: An Extremely Bizarre Plan to Play Basketball," 16 June 2020 Pritzker is pushing for a progressive income tax that would have higher rates for those who earn more. Brett Rowland, Washington Examiner, "Thousands of protesters in Illinois demand police reforms," 8 June 2020 In comparison, the personal income tax only raised 21 percent. Washington Examiner, "Real estate revenue, a key source for New York City, dries up during pandemic," 15 June 2020 Wendt said in the press release that Fairfield’s city income tax, utility billing and permit offices remain open to the public, though many services are now available online through FairfieldOH.gov. Jeanne Houck, Cincinnati.com, "Fairfield and health officials work to identify people exposed to city employee with COVID-19," 15 June 2020 In fact, Ralston backed a move before the session was suspended to cut the state’s income tax rate for the second time in two years. James Salzer, ajc, "Groups ask Kemp, lawmakers to back tobacco tax hike to limit budget cuts," 11 June 2020

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'income tax.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

See More

First Known Use of income tax

1799, in the meaning defined above

Keep scrolling for more

Learn More about income tax

Time Traveler for income tax

Time Traveler

The first known use of income tax was in 1799

See more words from the same year

Statistics for income tax

Last Updated

1 Jul 2020

Cite this Entry

“Income tax.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/income%20tax. Accessed 10 Jul. 2020.

Keep scrolling for more

More Definitions for income tax

income tax

noun

English Language Learners Definition of income tax

: a tax paid on the money that a person or business receives as income

income tax

noun

Kids Definition of income tax

: a tax on the income of a person or business

income tax

noun

Legal Definition of income tax

: a tax on the net income of an individual or a business — compare excise, property tax

Keep scrolling for more

Comments on income tax

What made you want to look up income tax? Please tell us where you read or heard it (including the quote, if possible).

WORD OF THE DAY

See Definitions and Examples »

Get Word of the Day daily email!

Test Your Vocabulary

Words for Summer: A Quiz

  • a closeup of a sunflower
  • Which of the following words means “of or relating to summer”?
Spell It

Can you spell these 10 commonly misspelled words?

TAKE THE QUIZ
Dictionary Devil

Test Your Knowledge - and learn some interesting things along the way.

TAKE THE QUIZ
Love words? Need even more definitions?

Subscribe to America's largest dictionary and get thousands more definitions and advanced search—ad free!