federal income tax Meaning in Cambridge Business English Dictionary
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Meaning of "federal income tax" - Business English Dictionary

federal income tax

noun [C or U]
 
 
GOVERNMENT, TAX
a tax on workers' salaries or companies' profits that is paid to the US government: Some investment funds are exempt from federal income tax. →  Compare state income tax
(Definition of federal income tax from the Cambridge Business English Dictionary © Cambridge University Press)
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