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 no tax treaty with the U.S. barring double taxation, but the U.S. foreign tax credit affords substantial relief and the Montenegro income tax rate tops out at just 15%. —William P. Barrett, Forbes.com, 19 July 2025

The recall campaigns were led by those who fiercely opposed the Democratic lawmakers' support for a personal income tax hike proposed by then-Gov. James Blanchard. —Clara Hendrickson, Freep.com, 19 July 2025

My governor, Richard Ogilvie, had promoted and enacted a new income tax, so most laughed at his reelection chances. —Jim Nowlan, Chicago Tribune, 18 July 2025

Ohio is one of six states that does not have a corporate income tax, but does levy a state gross receipts tax, according to Tax Foundation. —Alex Perry, Cincinnati Enquirer, 15 July 2025

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