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.
Some taxpayers, the IRS said, may receive their income tax refunds a few days earlier. Susan Tompor, USA TODAY, 25 Feb. 2025 The new tax benefit for mothers of two or three (mothers of four are already exempt from income tax) will be phased in gradually from January. Mark Joseph, Newsweek, 24 Feb. 2025 For those worried about state and local tax (SALT) deductions in blue states, the answer isn't complicated: cut federal income tax rates across the board. Steve Forbes, Forbes, 20 Feb. 2025 Amending sections of the Internal Revenue Code and withdrawing from the U.S.-China income tax treaty would result in significant changes in U.S. international tax policy, but all the necessary steps are well within Congress’s power. Alex Raskolnikov, Foreign Affairs, 19 Feb. 2025 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

Cite this Entry

“Income tax.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/income%20tax. Accessed 4 Mar. 2025.

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
Love words? Need even more definitions?

Subscribe to America's largest dictionary and get thousands more definitions and advanced search—ad free!