taxable

Definition

Being subject to taxation. Income, food, property, and merchandise are some examples of items that are considered taxable. A governing agency usually determines the percentage of taxes that need to be paid on a specific item or service.

Use taxable in a sentence

You should always know how taxable any product is so that you can factor that in to the price you charge.

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John was surprised to find out at his first job that his paycheck was smaller than anticipated because his income was taxable.

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In Florida neccesities, things like food and clothes, were not taxible, here in North Carolina everything under the sun is taxable.

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distributable net income (DNI) tax umbrella