WordNet:
tax base
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tax base
The aggregate value of the financial streams or assets on which tax can be imposed.
tax base - Related Articles
Accounting for Share-Based Payments under IFRS
Best Practice ...
Tax Base. The amount on which a tax rate is applied. In the case of personal or corporate income tax, for example, the tax base is taxable income; ...
Tax base
The assessed value of the taxable property, assets, and income within a specific geographic area.
Tax basis ...
Tax Base
The total resource of the community that is legally available for taxation.
Tax Levy
The ratio of debt service to the necessary tax revenues to pay for the debt service.
[edit] Tax base
The tax base of an asset or liability is the amount attributed to that asset or liability for tax purposes: ...
TAX BASE: An item or activity that is subject to taxation. The most common tax bases are income, consumption, and wealth. The personal income tax and Social Security tax are two common taxes levied on the income base.
tax based on income earned by a person or business. The income tax is the main source of revenue for the federal government and one of the main sources for many states.
See also ad valorem , progressive tax , sales tax , Value-Added Tax (VAT) ...
Tax Base
The assessed value of a set of assets, investments or income streams that is subject to taxation, or the assessed value of a single asset that is subject to taxation. Anything that can be taxed has a tax base.
A tax based according to item value only, usually property tax based on the just or fair market value of the property. This tax can also be imposed on as a duty on imported items.
A tax based on the assessed value of real estate or personal property. In other words ad valorem taxes can be property tax or even duty on imported items. Property ad valorem taxes are the major source of revenues for state and municipal governments.
Tax base
The amount on which a taxpayer pays taxes, as for example their taxable income in the case of an income tax, or the taxable value of their property in the case of a property tax.
Tax break ...
AD VALOREM TAX - A tax based on the value of real property, most commonly real estate. The City can onl...
AD VALOREM TAX ("ACCORDING TO ITS VALUE") - A state or local government tax based on the value of real ...
Sales tax - A tax based on a percentage of the selling price of the goods or service that the buyer must pay.
[OTS] ad valorem (property) tax A direct tax based 'according to value' of property.
tax base The taxable value of assets, investments, or income. Many different assets have tax bases related to their assessed values. tax basis The purchase price used to determine capital gains and capital losses for tax...
CAPITAL TAX -- A tax based on capital holdings, as opposed to a capital gains tax.
CAPITALIZE -- To record capital outlays as additions to asset accounts, not as expenses.
CAPITAL LOSS -- The loss from the sale of a capital asset.
Taxes are most often levied as a percentage, called the tax rate, of a certain value, the tax base (how much income and assets one has, earns, spends, inherits, etcetera).
An ad valorem tax is a tax based on a calculated percentage of the value of property or goods. The "ad valorem" in ad valorem tax is a Latin term meaning "according to value.
The one objection to a consumption tax based on pure economics is that it would require a higher tax rate in order to raise the same revenue as an income tax that includes capital income.
The court did not address everything that could be considered part of the tax base. Cite: Executive Jet Aviation Inc. v. United States, 123 F.3d 1463 (1997 C.A. Fed), 80 A.F.T.R.2d 97-6502.
Debt of a political entity, such as a state, where its tax base extends to the tax base of another political entity, such as a county within the state. When evaluating a municipal bond, if the issuer has overlapping debt, it should be considered.
The Act which replaced the previous Internal Revenue Code Act of 1954 to simplify the income tax code, broaden the tax base and eliminate many tax shelters and other preferences.
Your state charges an annual motor vehicle registration tax based on 1% of the car's value plus 50 cents per hundred pounds. You paid $167 based on the car's value ($15,000) and its weight.
AD VALOREM TAX " A tax based on value of real property.
ADVANCED REFUNDED BONDS " Bonds whose debt service is paid by escrowed funds. Also called Pre-refunded Bonds.
Ad Valorem Tax
A tax based on the value of real or personal property. Property taxes are the major source of revenues for local governing units. (See also: Mill Rate) ...
Inheritance Tax
State tax based on the value of property received through inheritance. (Tax is in the US and in England.) ...
Mortgage Stamp Duty - a State Government tax based on the dollar value of a mortgage.
Mortgagee - the lender of funds to buy property secured by a mortgage.
Mortgagor - the person borrowing money with a mortgage.
Payroll Taxes
A tax based on wages and salaries that is deducted from employees pay cheques.
The alternative minimum tax is an additional tax based on the difference between a tax on the taxpayer's "alternative minimum taxable income" and the tax that would otherwise be imposed, I.R.C. ยงยง 55(a), (b). I.R.C.
ASSESSMENT Tax on real property either by an annual property tax based on current fair market value or via special assessments for sewers, public improvements, etc.
Self-employed people generally have to pay tax based on a December 31 year-end. See How does a self-employed person choose a year-end, on our Small Business page.
Fixed assets ...
Federal legislation that impacts many direct and indirect components of pay (such as qualified retirement plan limits), increases the Medicare tax base, eliminates the deduction for executive pay in excess of $1 million under most circumstances, ...
This current liability account reports the amount a company owes the state and federal governments as of the balance sheet date for the employer's unemployment tax based on the govenments' rates and the company employees' salaries and wages.
The baby boomers currently represent 1/3 of our entire workforce. They can only be replaced by an even larger size of working migrants to keep our tax base sufficient.
Minimizing tax burden through legal means such as tax-free municipal bonds, tax shelters, IRA accounts, and trusts. Compare with tax evasion.
Tax base ...
Coterminous: Overlapping debt, such as the bonds of a city and a school district where both debts are being paid by the same tax base (taxpayers).
 See also: Expense, Saving, Banks, Tax deduction, Bills
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