income tax

Definition

Annual tax levied by the Federal government, most states, and some local governments, on an individual's or corporation's net profit.

Use income tax in a sentence

Popular 'Taxes' Terms

Related Terms

Mentioned in these terms

Nearby Terms

Browse by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
depreciation tax shield 1120-SF Form