taxable income

noun

: 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

Dictionary Entries Near taxable income

Cite this Entry

“Taxable income.” Merriam-Webster.com Legal Dictionary, Merriam-Webster, https://www.merriam-webster.com/legal/taxable%20income. Accessed 26 May. 2024.

Love words? Need even more definitions?

Subscribe to America's largest dictionary and get thousands more definitions and advanced search—ad free!