An income tax is a tax:

Question

Quizplus · Accepted Answer

An income tax is a tax levied by the government on the income earned by individuals and corporations. It is based on the taxpayer's taxable income, which includes salaries, wages, tips, and other forms of compensation. The tax rate varies according to the amount of income earned, with higher earners paying a higher percentage of their income in taxes.

Option B is incorrect as it refers to capital gains tax which is not the same as income tax.
Option C is incorrect as it refers to payroll taxes which are different from income tax.
Option D is incorrect as it refers to sales tax which is not the same as income tax.

An Income Tax Is a Tax