federal income tax Meaning in the Cambridge English Dictionary Cambridge dictionaries logo

Meaning of “federal income tax” in the English Dictionary

"federal income tax" in Business English

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federal income taxnoun [C or U]

uk   us   GOVERNMENT, TAX
a ​tax on ​workers' ​salaries or ​companies' ​profits that is ​paid to the US ​government: Some ​investmentfunds are exempt from ​federalincometax.
(Definition of federal income tax from the Cambridge Business English Dictionary © Cambridge University Press)
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