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INCOME TAX
| Pronunciation (US): |  | (GB): | |
I. (noun)
Sense 1
Meaning:
A personal tax levied on annual income
Classified under:
Nouns denoting possession and transfer of possession
Hypernyms ("income tax" is a kind of...):
revenue enhancement; tax; taxation (charge against a citizen's person or property or activity for the support of government)
Hyponyms (each of the following is a kind of "income tax"):
bracket creep (a movement into a higher tax bracket as taxable income increases)
estimated tax (income tax paid periodically on income that is not subject to withholding taxes; based on the taxpayer's predicted tax liability)
FICA (a tax on employees and employers that is used to fund the Social Security system)
withholding; withholding tax (income tax withheld from employees' wages and paid directly to the government by the employer)
supertax; surtax (an additional tax on certain kinds of income that has already been taxed)
