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

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

For the fourth quarter, the company also recorded income tax expense of $21 million, down from $49 million the year prior.

From The Wall Street Journal • May 22, 2026

Streeting is suggesting capital gains tax rates should mirror the three bands of income tax - 20%, 40%, 45%.

From BBC • May 21, 2026

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

From MarketWatch • 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