Advanced as in retention A tax deducted at the source of income, typically by an employer or payer, before the income is received by the recipient. Clear All
3 Example Sentences Showcasing the Meaning of 'Withholding Tax'
The business owner calculated the withholding tax for each employee's paycheck.
The employee was surprised by the significant reduction in salary due to withholding tax.
The company automatically deducts the withholding tax from each employee's paycheck.
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