: 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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States like Florida and Texas lure both billionaires and ordinary workers by touting their lack of a state income tax.—Kelly Phillips Erb, Forbes.com, 16 May 2026 Gregg Hull, a former three-term mayor of Rio Rancho on the outskirts of Albuquerque, wants New Mexico to join the ranks of states with no personal income tax like Texas and Wyoming.—Morgan Lee, Fortune, 15 May 2026 The felony charges of wire fraud, income tax fraud, loan fraud and theft of between $500 and $10,000 were brought less than a month before an April 2025 village election in which Doneshia Codjoe challenged Monee’s incumbent mayor, Therese Bogs.—Olivia Stevens, Chicago Tribune, 14 May 2026 But economists noted that consumer spending, propped up by generous income tax refunds, is still healthy.—Los Angeles Times, 14 May 2026 See All Example Sentences for income tax