From Longman Business Dictionarytaxable incomeˌtaxable ˈincome [countable, uncountable]TAX the amount of income used as a basis to calculate tax after taking away ALLOWANCEs, DEDUCTIONs etc from gross incomeSomeone with a taxable income of $90,000 has, on average, a gross income of $125,000. → income
