Definition of Taxable income


Taxable income means federal taxable income determined without regard to Section 168(k) of the Internal Revenue Code and:
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Taxable income means qualifying wages, including sick and vacation pay, bonuses, commissions, incentive payments, settlements, stock options, grievance pay, severance

Taxable income means the aggregate of-
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Examples of Taxable income in a sentence

Taxable income differs from GAAP income because of both temporary and permanent differences in income and expense recognition.
In the case of a personal service corporation, adjusted taxable income for purposes of paragraph (c)(2) of this section is an amount equal to the sum of the-- ( 1) Taxable income of the personal service corporation, and ( 2) Applicable amounts defined in section 280H(f)(1) that are deducted in determining the amount described in paragraph (c)(2)(iii)(C)( 1) of this section.
Taxable income must be computed and a return must be made for a period known as the taxable year.
Taxable income differs from income as reported in the consolidated statement of income (loss) because it excludes items of income or expense that are taxable or deductible in other periods and it further excludes items that are never taxable or deductible.
Taxable income normally differs from income reported in the consolidated statement of income as it excludes items of income or expense that are taxable or deductible in other years or are not taxable or deductible for income tax purposes.