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

Many have spent their entire careers in countries where personal income tax is an unavoidable part of everyday life. — Alia Noor, Forbes.com, 12 Aug. 2026

O’Neill was a social and fiscal moderate opposed to enacting a state income tax. — Mark Pazniokas, Hartford Courant, 12 Aug. 2026

On the other hand, billionaires were already paying so little in California income tax that their departure may not pack as much of a punch as anticipated. — Sasha Rogelberg, Fortune, 11 Aug. 2026

Using Form 1099-S Use Form 1099-S together with your closing documents and other tax records when preparing your federal income tax return. — Encyclopedia Britannica, 10 Aug. 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