income tax

American  

noun

1. a tax levied on incomes, especially an annual government tax on personal incomes.

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income tax British  

noun

1. a personal tax, usually progressive, levied on annual income subject to certain deductions

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Etymology

Origin of income tax

First recorded in 1790–1800

Example Sentences

It is mainly due to taxation matters as the company paying a supplementary payment of CNY300 million in enterprise income tax and late payment surcharges for 2020 to 2022, they note.

From The Wall Street Journal • Jun. 4, 2026

Despite reporting millions of dollars in revenue, he paid no income tax in some years and as little as $750 in others.

From Salon • May 25, 2026

Texas also offers benefits like lower taxes, since it has no state income tax for employees or companies.

From MarketWatch • May 19, 2026

The bank said the funds will be exempt from inheritance tax and income tax.

From BBC • May 19, 2026

Please don’t try to file an income tax at your age.

From "Our America: Life and Death on the South Side of Chicago" by LeAlan Jones