Law Dictionary

taxable

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adjective tax·able \ˈtak-sə-bəl\

Legal Definition of taxable

  1. 1 :  subject to being taxed :  making one liable to taxation <a taxable amount> <a taxable event>

  2. 2 :  that may be properly charged by the court against the plaintiff or defendant in a suit <taxable costs>

  3. 3 :  used as the basis of a tax computation <a taxable period>

taxability

\ˌtak-sə-ˈbi-lə-tē\ noun

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