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
Examples are automatically compiled from online sources to show current usage. Read More Opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback.
Catch up quick: Cox signed a law earlier this year slashing the state income tax rate from 4.65% to 4.55%. Democrats and education advocates criticized the cut, arguing those funds should be spent on public schools and social services. Kim Bojórquez, Axios, 5 Dec. 2024 In the resulting chaos, states have scrambled to fill the gap with regard to state income tax. Robert W. Wood, Forbes, 5 Dec. 2024 Individual tax rates are set to tick up Several marginal income tax rates are set to increase in 2026 in what would be the most noticeable single aspect of the TCJA expirations. Tobias Burns, The Hill, 4 Dec. 2024 At the time of Grint's payment, the top income tax rate was 50 percent. Thomas G. Moukawsher, Newsweek, 29 Nov. 2024 See all Example Sentences for income tax 

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 23 Dec. 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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