Topic Areas

Withholding tax

Definition:

The amount of income tax withheld from employees’ wages or salaries.

Example Sentences

Are we able to estimate the withholding tax or does the figure need to be exact?

They rarely count any withholding tax.

You don't have to worry about that withholding tax.

Nonetheless, the purpose of withholding tax is to facilitate or accelerate collection.

You don't have to report the withholding tax on your year-end forms.

Nonetheless, the withholding tax was much more than I had expected.

Key Phrases
Account activity
Merchant bank
Additional collateral
Safety deposit box
Deferred payments
Enterprise
Amortization
Capital assets
Interest rate
Adjustable rate preferred stock
take-over bid
Owner’s equity
Act on behalf of
Accrual
Stock dividend
Outstanding credits
Fixed costs
Always at your service
Accrued liability
Appraisal

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