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

There is an initial $22 setup fee (low income tax filers may be eligible for a fee waiver), plus penalties and interest. —Kat Tretina, Sacbee.com, 28 Mar. 2026

But the absence of a state income tax doesn’t mean the cost of living is low across the board. —System Process, Fort Worth Star-Telegram, 27 Mar. 2026

Candelora cautioned that the state’s large budget surpluses of the past seven years may be coming to an end due to economic volatility as thousands of residents are preparing their annual April 15 income tax returns. —Christopher Keating, Hartford Courant, 26 Mar. 2026

DiNapoli estimates the 2025 bonuses will generate $199 million more in state income tax revenue and $91 million more for the city compared with last year—a critical cushion as federal funding grows uncertain. —Nick Lichtenberg, Fortune, 26 Mar. 2026

Word History

First Known Use

1799, in the meaning defined above

Rhymes for income tax

• anticlimax
• counterattacks
• hemothorax
• mesothorax
• metathorax
• pneumothorax
• almanacs
• carrybacks
• haversacks
• lumberjacks
• maniacs
• microcracks

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