Definition of "income tax" []

• A tax levied on net personal or business income. (noun)

American Heritage(R) Dictionary of the English Language, Fifth Edition. Copyright (c) 2011 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

• "Warren Buffett suggests semifacetiously that 3 percent of the revenue from the corporate income tax might be allocated to a fund that would be administered by some representatives of corporate America to be used in intelligent ways for the long-term benefit of society."
• "Lily Kenan married Mr. Flagler, and they didn't have any income tax in 1913, until 1913, as I remember."
• "Use your tax-reducing plan and your W-4 as your ticket to an instant increase in your monthly spendable income and recover part or all of your income tax withholding."