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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