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 Bonilla and Griffey both live in Florida, which does not have a state income tax. Kurt Badenhausen, Sportico.com, 1 July 2024 Trump’s recent proposals on the subject, from a 10 percent tariff across the board to abolishing the income tax and replacing the revenue via tariffs on imports would be an economic disaster. Washington Post Opinions Staff, Washington Post, 28 June 2024 The act made numerous permanent and temporary changes to the tax code, including reducing both corporate and individual income tax rates. Cnn.com, The Mercury News, 28 June 2024 Because of this, some argue that Washington’s capital gains tax is an unconstitutional income tax. Brett Davis | The Center Square, Washington Examiner - Political News and Conservative Analysis About Congress, the President, and the Federal Government, 20 June 2024 See all Example Sentences for income tax 

These examples are programmatically compiled from various online sources to illustrate current usage of the word 'income tax.' Any opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback about these examples.

Word History

First Known Use

1799, in the meaning defined above

Time Traveler
The first known use of income tax was in 1799

Dictionary Entries Near income tax

Cite this Entry

“Income tax.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/income%20tax. Accessed 7 Jul. 2024.

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
Last Updated: - Updated example sentences
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