taxable year

taxable year definition - business

taxable year

The 12-month period for which taxable income is calculated. For individuals, the taxable year is nearly always the same as the calendar year. For businesses, the taxable year is nearly always the same as the fiscal year.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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