: 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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The new deduction — which would apply to your 2026 federal income tax return that's filed in 2027 — is limited to $1,000 for single filers and $2,000 for married couples filing jointly, per year.—Susan Tompor, Freep.com, 13 Nov. 2025 The latest crisis to hit the government comes ahead of a budget announcement on November 26, when Labour – in order to fill a fiscal black hole – is expected to break a key election pledge by increasing the basic rate of income tax for the first time in half a century.—Christian Edwards, CNN Money, 12 Nov. 2025 Earnings before income tax, or EBIT, also collapsed, with both adjusted and reported EBIT falling by more than 80 percent.—Stephen Garner, Footwear News, 11 Nov. 2025 Texas does not have a state income tax, so, naturally, its property and sales taxes are high.—Kate Plummer, MSNBC Newsweek, 10 Nov. 2025 See All Example Sentences for income tax
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