basis

noun

ba·​sis ˈbā-səs 

plural bases ˈbā-ˌsēz 

1

: the bottom of something considered as its foundation

2

: the principal component of something

Fruit juice constitutes the basis of jelly.

3

a

: something on which something else is established or based

stories with little basis in reality

no legal basis for a new trial

still some basis for hope

selected on the basis of test scores

b

: an underlying condition or state of affairs

hired on a trial basis

He is on a first-name basis with his customers.

c

: a fixed pattern or system

meets with us on a regular basis [=regularly]

The department sends reports on a daily basis. [=every day]

4

: the basic principle

concepts that form the basis of the country's economic policies

5

mathematics : a set of linearly independent vectors (see vector entry 1 sense 1a) in a vector space such that any vector in the vector space can be expressed as a linear combination of them with appropriately chosen coefficients (see coefficient sense 1)

Synonyms

• base
• bedrock
• bottom
• cornerstone
• footing
• foundation
• ground
• groundwork
• keystone
• root
• underpinning
• warp
• warp and woof

Examples of basis in a Sentence

The company does not hire employees on the basis of their race, sex, age, or religion.

the sole basis for the rumor is someone's overactive imagination

Recent Examples on the Web

Well, the United States does provide foreign assistance on a yearly basis. —Isaac Chotiner, The New Yorker, 22 Nov. 2023

Small investors sold nearly $65 million of Apple shares in the past four sessions on a net basis, according to Vanda data. —Hannah Miao, WSJ, 21 Nov. 2023

Screening high-risk patients is done on a voluntary basis by hospitals and facilities, and public health authorities say that levels of screening vary widely among facilities. —Mary Hynes Las Vegas Review-Journal (tns), arkansasonline.com, 21 Nov. 2023

Patrol squadrons were once based at Kaneohe Bay, but now deploy to Hawaii on a rotational basis. —CBS News, 21 Nov. 2023

Also Saturday, tensions flared on the Israel-Lebanon border, where Israeli forces and Hezbollah fighters have traded fire on a regular basis since the war began. —Loay Ayyoub, Washington Post, 18 Nov. 2023

In the interim, the students are being provided with bottled water on a daily basis. —Megan Christie, ABC News, 17 Nov. 2023

McMillon, who gets a close-up view of US shoppers on a daily basis, now has to convince Wall Street that Walmart can continue to drive sales and market-share growth as inflation wanes. —Jeannette Neumann, Fortune, 16 Nov. 2023

Walter Isaacson’s authorized biography of the controversial tech mogul, which was published in September, will serve as the basis for the screenplay. —Ellise Shafer, Variety, 10 Nov. 2023

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Word History

Etymology

Latin — more at base entry 1

First Known Use

14th century, in the meaning defined at sense 1

Phrases Containing basis

• basis point
• on a first-come, first-served basis
• on a day-to-day basis
• on a friendly basis
• on a nightly basis
• on a first-name basis
• on a rotating basis
• on the basis of
• on a trial basis
• on what basis

See More

• basis point
• on a first-come, first-served basis
• on a day-to-day basis
• on a friendly basis
• on a nightly basis
• on a first-name basis
• on a rotating basis
• on the basis of
• on a trial basis
• on what basis

See More

Kids Definition

basis

noun

ba·​sis ˈbā-səs 

plural bases ˈbā-ˌsēz 

: something on which some other thing is based or established

Medical Definition

basis

noun

ba·​sis ˈbā-səs 

plural bases -ˌsēz 

1

: any of various anatomical parts that function as a foundation

2

: base sense 2b

Legal Definition

basis

noun

ba·​sis ˈbā-səs 

plural bases -ˌsēz 

1

: something (as a principle or reason) on which something else is established

the court could not imagine any conceivable basis for the statute

see also rational basis

2

: a basic principle or method

especially : the principle or method by which taxable income is calculated

Note: The Internal Revenue Code has set some limits on which method a taxpayer may use for figuring taxable income. For example, a corporation with gross receipts under $5,000,000 may be a cash-basis taxpayer.

— accrual basis

: a method of accounting in which income and expenses are recorded in the period when they are earned or incurred regardless of when the payment is received or made

called also accrual method

— cash basis

: a method of accounting in which income and expenses are recorded in the period when payment is received or made

called also cash method

3

: the value (as cost or fair market value) of an asset used in calculating capital gains or losses for income tax purposes

— adjusted basis

: the basis of an asset increased or decreased to reflect changes in value (as through improvement or depreciation)

— carryover basis \ ˈkar-​ē-​ˌō-​vər-​ \

: the basis of a donated or transferred asset that is equal to the basis of the asset when it was in the hands of the donor or transferor

Note: Carryover basis is generally applied to gifts and to transfers in trust.

— cost basis

: the basis of an asset equal to the amount paid for the asset plus other acquisition costs

— stepped-up basis \ ˈstept-​ˈəp-​ \

: the basis of inherited property equal to its market value at the decedent's date of death or to an alternate valuation

— substituted basis

: the basis of property received in exchange for property of a like kind that is equal to the basis of the property given with adjustments for additional consideration received or gains and losses realized