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

In addition, I’d have to pay income tax on any gains from an HYSA.

From MarketWatch • May 26, 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

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

From BBC • May 19, 2026

Dora was having trouble with her income tax, for she was entangled in that curious enigma which said the business was illegal and then taxed her for it.

From "Cannery Row" by John Steinbeck