Taxable Income definition

Taxable Income or "Tax Loss" shall mean the taxable income or tax loss of the Trust, determined in accordance with Section 703(a) of the Code, for each Fiscal Year as determined for federal income tax purposes, together with each of the Trust's items of income, gain, loss or deduction which is separately stated or otherwise not included in computing taxable income and tax loss.

Taxable Income means, in the case of an individual, federal adjusted gross income determined without regard to 26 U.S.C. § 168(k) and:

Taxable Income means wages, salaries and other compensation paid by an employer or employers before any deductions and/or the net profits from the operation of a business, profession or other enterprise or activity adjusted in accordance with the provisions of this chapter.

Examples of Taxable Income in a sentence

• The income tax levied by City of Garfield Heights at a rate of two percent (2%) is levied on the Municipal Taxable Income of every person residing in and/or earning and/or receiving income in City of Garfield Heights, Individuals.

• The exemption shall be in effect until such time as the retiree receives Municipal Taxable Income taxable to the City of Garfield Heights, at which time the retiree shall be required to comply with all applicable provisions of this ordinance/chapter.

• The main alteration is in the deduction of losses incurred in determining the Taxable Income and the CSLL calculation base.

• Retirees having no Municipal Taxable Income for City of Garfield Heights income tax purposes may file with the Tax Administrator a written exemption from these filing requirements on a form prescribed by the Tax Administrator.

• The existing text of subdivision (a) of such section is designated as subdivision (b) and is amended to read as follows: (b) Unincorporated Business Taxable Income.

More Definitions of Taxable Income

Taxable Income means the adjusted gross income of a taxpayer less the deductions and exemptions provided for in this chapter.

Taxable Income means the adjusted gross income of a taxpayer less the deductions and

Taxable Income means, with respect to any Person for any period, the taxable income or loss of such Person for such period for federal income tax purposes; provided, that (i) all items of income, gain, loss or deduction required to be stated separately pursuant to Section 703(a)(1) of the Code shall be included in taxable income or loss, (ii) any basis adjustment made in connection with an election under Section 754 of the Code shall be disregarded and (iii) such taxable income shall be increased or such taxable loss shall be decreased by the amount of any interest expense incurred by such Person that is not treated as deductible for federal income tax purposes by a partner or member of such Person.

Taxable Income means, for any period, the taxable income or loss of Icahn Enterprises for such period for federal income tax purposes.

Taxable Income or “Taxable Loss” means, respectively, in respect of any Fiscal Year, the amount of income or loss for tax purposes of the Partnership for such period determined in accordance with the Guarantor Agreement and the provisions of the Income Tax Act;

Taxable Income means any "taxable income" as defined in section 1 of the Income Tax Act;

Taxable Income means qualifying wages paid by an employer or employers, compensation for personal services, other income defined by statute as taxable, and/or adjusted federal taxable income from the operation of a business, profession, or other enterprise or activity adjusted in accordance with the provisions of this Chapter.