tax base

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Related to Tax Bases: tax avoidance, Tax burden

Tax base

The assessed value of the taxable property, assets, and income within a specific geographic area.

Tax Base

The value of all assets that a government may tax. The tax base may increase for a number of reasons, particularly with the creation of wealth or when persons with high income move to an area. The tax base is particularly important to local governments because persons with large amounts of assets can move in and out with relative ease. The tax base is also the reason that government revenues tend to increase during economic growth and shrink during recessions.

tax base

The resources that are available for taxation. An evaluation of the tax base is of particular importance in certain municipal bond issues secured by tax revenues.

tax base

the total pool that the tax authorities can tap in levying a TAX. For example, the tax base for INCOME TAX is total taxable income and the tax base for CORPORATION TAX is total taxable profits.

tax base

The assessed value of all the property within a taxing jurisdiction.Local governments are always extremely sensitive to the size of the tax base and the need to increase it,and will often offer incentives to developers who will increase the sales taxes in the area,increase the tax base through additional improved properties, or increase the tax base through redevelopment and increased property values.

References in periodicals archive ?
Competition between states predicated, for instance, on tax bases versus rates, is probably not, on balance, beneficial.
The instability of sub-national tax systems is undermining the national economy, so too the transaction costs of multiple inconsistent sub-national tax bases and the dramatically inequitable spending cuts that fiscal volatility results in.
As the applicability of the SALT deduction has broadened in terms of taxpayers, so too has the kind of taxes to which it applied as the states and localities diversified their tax bases.
18) As to stability, the property tax base is the most stable tax base.
010, explaining which state taxes have to be added back in computing the corporate income tax base.
97, which identifies specific state taxes that have to be added back to Federal taxable income in computing the corporate tax base.
During 2005, a number of states decoupled from this Federal deduction, thus requiring taxpayers to add back the deduction in computing the state tax base.
The Consultation Document acknowledges that IAS accounts would serve, at most, as a starting point for arriving at a tax base and not the tax base itself.
One example highlighting the importance of such an approach would be using consolidated accounts after the elimination of intercompany transactions as a common tax base.
Ultimately, the process should be one that has the greatest likelihood of creating a set of rules regarding a common tax base that will be consistently applied.
It is unlikely that these issues will disappear even if a common tax base is introduced.
There was a marked difference in the components of the franchise tax base for domestic and foreign corporations.