: 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 Revenue Act also created the modern income tax system with a one-percent tax on workers earning more than $3,000 per year, the equivalent of $94,909 in 2024.—Mike Patton, Forbes.com, 25 June 2025 After that, the county can figure out where the income tax revenue should be divvied up.—Doug Ross, Chicago Tribune, 25 June 2025 Oman will be the first Gulf country to impose a personal income tax.—Manal Albarakati, semafor.com, 23 June 2025 In addition, university endowments are eyed by lawmakers as a source of revenue to offset business and income tax cuts and other reforms.—Michael McCann, Sportico.com, 23 June 2025 See All Example Sentences for income tax
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