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

The recent quarter’s figure includes a $5.7 billion income tax benefit, or $5.33 per share, from the release of a valuation allowance, the company said.

From The Wall Street Journal • Apr. 29, 2026

Republicans feared the income tax, but they had grown to hate tariffs.

From The Wall Street Journal • Apr. 28, 2026

New York state, meanwhile, has a progressive income tax that tops out at around 10.9%, among the highest state taxes in the country.

From MarketWatch • Apr. 22, 2026

New York City also assesses a local income tax on top of the state tax.

From MarketWatch • Apr. 22, 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