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2. What Is Income Tax and How Are Different Types Calculated? - ...

   www.investopedia.com/terms/i/incometax.asp

   Income tax is a type of tax governments impose on the income that businesses and individuals generate. By law, taxpayers must file an income tax return annually to...

3. Income Tax | Definition, Types, Filing, and How It Works

   www.financestrategists.com/tax/income-tax

   What Is Income Tax? Income tax, in its simplest form, is a legal obligation charged by governments on individuals' and corporations' financial incomes. Predominantly, it's applied to both earned income, such as wages and salaries, and unearned income, like dividends or rental income.

4. Income tax | Definition, Types, & Facts | Britannica Money

   www.britannica.com/money/income-tax

   income tax, levy imposed on individuals (or family units) and corporations. Individual income tax is computed on the basis of income received. It is usually classified as a direct tax because the burden is presumably on the individuals who pay it. Corporate income tax is imposed on net profits, computed as the excess of receipts over allowable ...

5. Guide to Income Tax - Investopedia

   www.investopedia.com/income-tax-4427722

   Understanding how the income tax system works—and ways to minimize the amount you owe—is essential to financial planning. Learn about tax brackets, filing status, how to file taxes, and more.

6. Individual Federal Income Taxes | Definition, Factors, and Rates

   www.financestrategists.com/tax/tax-planning/individual-federal-income-taxes

   Learn about individual federal income taxes. Find out its definition, key factors influencing them, tax rates, tax credits, deductions, and how to file.

7. What Is Income Tax? - The Balance

   www.thebalancemoney.com/what-is-income-tax-5214776

   An income tax is a tax based on an individual’s or business’s earned and unearned income. Here’s how income tax works and what factors affect it.

8. Income tax: what is it, how it works, types, how to calculate - ...

   www.usatoday.com/story/money/taxes/2024/02/13/what-is-income-tax/72587706007

   Income tax is a tax that governments put on income created by people and businesses within their jurisdiction. There is federal as well as state income tax. However, not all...

9. Federal Income Tax - Investopedia

   www.investopedia.com/terms/f/federal_income_tax.asp

   What Is Federal Income Tax? The United States federal income tax is levied by the Internal Revenue Service (IRS) on the annual earnings of individuals, corporations, trusts, and other legal...

10. Income tax Definition & Meaning - Merriam-Webster

    www.merriam-webster.com/dictionary/income tax

    The meaning of INCOME TAX is a tax on the net income of an individual or a business. How to use income tax in a sentence.

11. Individual Income Tax | TaxEDU Glossary

    taxfoundation.org/taxedu/glossary/individual-income-tax

    An individual income tax (or personal income tax) is levied on the wages, salaries, investments, or other forms of income an individual or household earns. The U.S. imposes a progressive income tax where rates increase with income. The Federal Income Tax was established in 1913 with the ratification of the 16th Amendment.