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.

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

taxable income

Income that is subject to tax.

taxable event

An occurrence that triggers a tax obligation.

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.