Advanced as in retention A tax deducted at the source of income, often by employers or financial institutions, 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.
Learning about withholding tax is part of the training for new employees in the finance department.
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