taxable income

noun

Legal Definition of taxable income

: income that is subject to taxation and is characterized by the accrual of some gain or benefit to the taxpayer specifically : the total amount of income remaining as the basis of taxation for a given period after all allowable deductions have been applied to gross income

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Dictionary Entries Near taxable income

taxable estate

taxable income

taxable termination

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Cite this Entry

“Taxable income.” Merriam-Webster.com Legal Dictionary, Merriam-Webster, https://www.merriam-webster.com/legal/taxable%20income. Accessed 23 Sep. 2021.

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