income tax

American

noun

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

income tax British

noun

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

"Collins English Dictionary — Complete & Unabridged" 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012

Etymology

Origin of income tax

First recorded in 1790–1800

Example Sentences

Examples are provided to illustrate real-world usage of words in context. Any opinions expressed do not reflect the views of Dictionary.com.

In recent years, the Scottish government has used its wide-ranging powers over income tax to increase its revenues.

From BBC

Jed Fowler, the chairman of irrigation company HD Fowler, stepped down as chairman after his testimony in favor of the income tax created an uproar.

From The Wall Street Journal

She pays less in income taxes on the assets than the trust would, and she plans to keep the assets in her estate, so her beneficiaries will receive a step-up in basis at her death.

From Barron's

In addition, they face an increase in income tax on rental income in 2027.

From BBC

For a high earner, a move from San Francisco, Los Angeles or New York to Miami could save 10 to 14 percentage points on income tax, based on current rates.

From The Wall Street Journal

Definitions and idiom definitions from Dictionary.com Unabridged, based on the Random House Unabridged Dictionary, © Random House, Inc. 2023