income tax

noun

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

income tax

noun

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

Word History and Origins

Origin of income tax¹

First recorded in 1790–1800

Example Sentences

Plus, you will have to pay income tax on all withdrawals.

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The 16th Amendment simultaneously allowed national income tax.

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If you withdraw money for nonmedical expenses and you are under age 65, you will face a 20% penalty and income taxes on your withdrawal.

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Based on the data, first-generation immigrants consume a bit more at the local level in public services than they pay in income taxes.

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The amount of money people take home in their pay packet is set to go up, as personal income tax allowances could increase by £600 to £15,200.

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