Taxable

/ˈtæksəbl/

Meaning & Definition

adjective
Subject to taxation; liable to be taxed.
Income earned from self-employment is considered taxable.
Applicable or relevant in terms of taxation.
The company reported a taxable profit for the fiscal year.
Referring to items that can be taxed under laws or regulations.
Certain types of gifts are deemed taxable under federal tax laws.

Etymology

Derived from the word 'tax' combined with the suffix '-able', indicating capability.

Common Phrases and Expressions

taxable income
Income that is subject to tax.
taxable event
An occurrence that triggers a tax obligation.

Related Words

tax
A compulsory financial charge or levy imposed by a government.
exemption
The process of freeing or state of being free from an obligation or liability imposed on others.

Slang Meanings