taxable

Defined in 4 dictionaries — U.S. Code, Bouvier (1914), Black's (1910), Abbott (1879)

United States Code

26 U.S.C. § 643 — for purposes of this subpart

For purposes of this subpart and subparts B, C, and D, the term “income”, when not preceded by the words “taxable”, “distributable net”, “undistributed net”, or “gross”, means the amount of income of the estate or trust for the taxable year determined under the terms of the governing instrument and applicable local law. Items of gross income constituting extraordinary dividends or taxable stock dividends which the fiduciary, acting in good faith, determines to be allocable to corpus under the terms of the governing instrument and applicable local law shall not be considered income.

Bouvier's Law Dictionary and Concise Encyclopedia

John Bouvier; revised by Francis Rawle · 1914

That may be taxed.

Black's Law Dictionary

Henry Campbell Black, M.A. · 1910

Subject to taxation; liable to be assessed, along with others, for a share in a tax. Persons subject to taxation are sometimes called "taxables;" so property which may be assessed for taxation is said to be taxable. Applied to costs in an action, the word means proper to be taxed or charged up; legally chargeable or assessable.

Dictionary of Terms and Phrases Used in American or English Jurisprudence

Benjamin Vaughan Abbott · 1879

1. Applied to persons or property, signifies subject to taxation; liable to some common exaction levied by government to provide a revenue. A power contained in a city charter, to assess " all taxable " property, includes not only such as was taxable by law at the time when the charter was enacted, but also whatever should be made subject to taxation by any subsequent general statute. Buifalo V. Le Couteulx, 15 N. Y. 451. 2. Applied to costs in a cause, it means legally chargeable; warranted by law; allowable by officers appointed to adjust costs. An order to pay " the taxable costs," means such as are allowable by law. Nichols V. Rensselaer County Mutual Ins. Co., 22 Wend. 125.