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 In January, Kelly vetoed a tax package passed largely with Republican votes that would have set a single income tax rate. Jonathan Shorman, Kansas City Star, 10 Apr. 2024 California’s individual income tax rates as a share of personal income are the nation’s highest. Andrew Sheeler, Sacramento Bee, 8 Apr. 2024 California has the nation’s highest state income tax rate, 13.3%. George Skelton, Los Angeles Times, 8 Apr. 2024 An income tax refund isn’t like a regular paycheck. USA TODAY, 4 Apr. 2024 In 2023, a total of 1.4 million individual income tax returns were filed, Hardin said. Michael R. Wickline, arkansasonline.com, 2 Apr. 2024 This assumes the two bonds are comparable in risk and the investor is not subject to any state income tax. Chris Gunster, Forbes, 27 Mar. 2024 In its unanimous March 7 ruling, a three-judge panel of the Michigan Court of Appeals said the law is clear that the default personal income tax rate in Michigan is 4.25% and an analysis must be performed each year to see whether revenues were high enough to trigger a one-year reduction. Paul Egan, Detroit Free Press, 25 Mar. 2024 That compromise had capped Carmel's future income tax collection growth, diverting $16.7 million in new county income taxes between 2021 and 2023 to Fishers. The Indianapolis Star, 21 Mar. 2024

These examples are programmatically compiled from various online sources to illustrate current usage of the word 'income tax.' Any opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback about these examples.

Word History

First Known Use

1799, in the meaning defined above

Time Traveler
The first known use of income tax was in 1799

Dictionary Entries Near income tax

Cite this Entry

“Income tax.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/income%20tax. Accessed 24 Apr. 2024.

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
Last Updated: - Updated example sentences
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