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Q: What is based on a person's taxable income?
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What is a persons taxable income?

Persons taxable income is the taxable income of any individual like owners or anybody in normal life which includes salary income, income from any business in partnership etc.


Best definition of taxable income?

The portion of a persons income that is eligible for taxation


Who are the taxable persons?

In the Internal Revenue Code there is a tax imposed upon taxable income and that is defined as gross income or adjusted gross income which amounts to income earned in a taxable year by a taxpayer. A taxpayer is any person subject to any revenue laws. Is that clear? It isn't to me, and I remain astounded that so many people will claim that such circumlocution is clear to them. A tax imposed upon taxable income does not answer what the subject of the tax is. Is taxable income the same as income? If it is then why is taxable income defined as gross income or adjusted gross income but income itself never defined? Is income the subject of the Personal Income Tax Law? Who are the taxable persons? Those persons made liable for a tax are. How do we know who has been made liable to a tax by understanding that a tax was imposed upon taxable income?


What kind of income tax is based on your taxable income?

Income tax IS based on your income that is why it is called INCOME tax.


Is an employer stock option incentive taxable income?

They are not taxable. Stocks are not taxed based on your income. They are taxed by region or where you may live. That is why these stocks are not taxable.


What is taxable income, and where can I find it ?

Taxable income is the income your taxes are based on in your federal and state income tax returns. This website explains it. en.wikipedia.org/wiki/Taxable_income


Is kinship income taxable income?

No it is not taxable


What are the similarties between the state income tax and the federal income tax?

The amount of your tax liability is based on your TAXABLE INCOME after your income tax return is completed completely and correctly down to the TAXABLE income line of each income tax return.


Are capital gains taxable by New York City?

New York City taxable income is based on New York State taxable income, which taxes capital gains as ordinary income. Therefore, yes, NYC taxes capital gains.


How can I determine my taxable income?

Taxable income is the total amount of your income that is taxable. Certain types of income are exempt from taxes, but most income is taxable. To find out more information about taxable income, go to http://en.wikipedia.org/wiki/Taxable_income


Is Avon income taxable?

ALL income is taxable.


Are bonuses taxable?

Yes, Bonuses are income and income is taxable