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.
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Related Terms
accumulated earnings tax, adjusted gross income, effective tax rate, joint return, overwithholding, underwithholding, provision for income taxes, tax bracket, taxable income
'income tax
' appears in the definitions of these terms on BusinessDictionary.comtax allocation within a period, tax base, effective tax rate, employed earner, ability to pay principle, and 
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