tax base


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Related to tax base: tax rate, 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 ?
The argument of this paper can be recast as follows: The decline of the property tax base is partially a result of contingent factors that have caused the property tax base to decline more than optimally.
It is unlikely that these issues will disappear even if a common tax base is introduced.
But taxpayers also must consider what would be included in the tax base, how government spending might change and how other taxes, such as employment and estate and gift taxes, are handled.
97-SBE-010 (5/8/97), the taxpayer asked the SBE to expand its holding in Dayton Hudson to encompass situations in which there is no cost of goods sold in the MSBT tax base for a particular taxpayer.
Tax base growth has averaged just over 13% annually for the past five fiscal years, and the increase for fiscal 2007 was more than 15%; estimated full cash value exceeded $10 billion for the year.
For businesses, the SBT is easy to budget, as typically 85%-95% of the tax base is made up of compensation, benefits, interest expense and tax depreciation (which usually do not vary that much each year).
Historically a rural community, the township's proximity to regional employment centers and affordable housing attracts residential and commercial development, fostering tax base growth averaging 9.
Assume, for example, that the gross profit tax base found in the VAT were extracted and substituted for the present U.
Although the district's tax base is primarily residential, the commercial component represents almost one-fourth of the value.
Accordingly, if both the LLC and its owners are taxable in Florida, the LLCs income is subject to double taxation--the LLC itself is subject to Florida tax and the LLCs income is included in the corporate owners' Florida tax base.
The 'A' rating reflects the district's conservative fiscal management, healthy financial position despite rapid growth pressures, and solid, diverse tax base with growth benefiting by the district's proximity to the Austin-San Marcos area economy.