income tax
noun [ C or U ]
ukus TAX
a tax on the money that a person earns from working or that a company earns from the sale of products or services:
business/corporate/personal income tax
avoid/evade/pay income tax Several tax evaders got away with no penalties by agreeing to pay income tax for previous years.
put up/increase/raise income tax Congress is highly unlikely to raise income tax in an election year.
to cut/reduce/lower income tax
The Chancellor proposed a 1p cut in the basic rate of income tax.
See also
corporate income tax
federal income tax
individual income tax
negative income tax
personal income tax
state income tax