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.
Minnesotans suffer under a high income tax rate, and Minnesota has lost tax-paying residents since 2019. Nicole Russell, USA TODAY, 31 Jan. 2025 Federal income tax is used to keep the country running, paying for expenses ranging from building and repairing the country's infrastructure, to providing education, public transportation and disaster relief. Thomas G. Moukawsher, Newsweek, 30 Jan. 2025 Monday is also the first day the IRS will start accepting and processing 2024 income tax returns. Andrew Torgan, CNN, 26 Jan. 2025 While tariffs will increase the price of consumer goods, Trump has hinted at reducing or eliminating the personal income tax with the new tariff revenue. Jasmine Cui, NBC News, 25 Jan. 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

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 5 Feb. 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
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