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

“With I bonds, you can defer federal income tax on the interest until you redeem or until the 30-year maturity. That’s a pretty significant benefit,” he said.

From MarketWatch • May 6, 2026

But she told Franklin that she also wished to avoid the California income tax that would kick in the moment her salary hit $1 million.

From Los Angeles Times • May 6, 2026

Apollo Global Management swung to a loss in the first quarter, driven by a higher income tax provision and a steep loss from its investment-related activities.

From The Wall Street Journal • May 6, 2026

Nor is it easy to accept the income tax as an urgent revenue matter when it isn’t imposed until 2028.

From The Wall Street Journal • May 5, 2026

Certainly, the Department of Justice wanted him deported back to the United States to stand trial for his violations, possibly in concert with the Department of the Treasury, for income tax evasion.

From "Endgame" by Frank Brady