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 Robert Kowalski, 62, was convicted by a jury last year on all counts of embezzlement, bankruptcy fraud and income tax fraud after a 3 ½-week trial before U.S. District Chief Judge Virginia Kendall, where Kowalski took the unusual and typically ill-advised step of representing himself. Jason Meisner, Chicago Tribune, 13 Aug. 2024 The committee estimated that, combined with an income tax exemption, her plan would cost the federal government as much as $200 billion over 10 years. Michael Hiltzik, Los Angeles Times, 13 Aug. 2024 Because California is overly reliant on high-wealth individuals paying the lion’s share of income tax revenue in the form of stock options and capital gains, even a modest national recession would inflict disproportionate pain here. Jon Coupal, Orange County Register, 12 Aug. 2024 Roughly 40% of Americans who receive Social Security benefits pay federal income tax, and several states collect taxes on Social Security. Kate Dore, Cfp®, CNBC, 9 Aug. 2024 See all Example Sentences for income tax 

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 9 Sep. 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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