accumulated taxable income


accumulated taxable income
The base upon which the accumulated earnings tax is imposed. Basically, it is the taxable income of the corporation as adjusted for certain items (e.g., the Federal income tax, excess charitable contributions, the dividends received deduction) less the dividends paid deduction and the accumulated earnings credit. I.R.C. No. 535.

Black's law dictionary. . 1990.

Look at other dictionaries:

  • accumulated earnings tax — n: a tax levied on the taxable income of a corporation that is accumulated by the corporation rather than distributed to shareholders and that is not retained for the reasonable needs of the business Merriam Webster’s Dictionary of Law. Merriam… …   Law dictionary

  • accumulated earnings tax — A special tax imposed on corporations that accumulate (rather than distribute via dividends) their earnings beyond the reasonable needs of the business. The accumulated earnings tax is imposed on accumulated taxable income in addition to the… …   Black's law dictionary

  • accumulated earnings credit — A deduction allowed in arriving at accumulated taxable income for purposes of determining the accumulated earnings See accumulated earnings tax accumulated taxable income …   Black's law dictionary

  • income — in·come n: a gain or recurrent benefit usu. measured in money that derives from capital or labor; also: the amount of such gain received in a period of time an income of $20,000 a year Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …   Law dictionary

  • income tax — a tax levied on incomes, esp. an annual government tax on personal incomes. [1790 1800] * * * Levy imposed by public authority on the incomes of persons or corporations within its jurisdiction. In nations with an advanced system of private… …   Universalium

  • Accumulated Income Payments - AIP — Money withdrawn from a Canadian Registered Education Savings Plan (RESP) if the RESP s beneficiary declines to attend college. RESPs allow contributions to grow tax free until the money is withdrawn, at which time taxes on withdrawals tend to be… …   Investment dictionary

  • previously taxed income — (PTI) Before the Subchapter S Revision Act of 1982, the undistributed taxable income of an S corporation was taxed to the shareholders as of the last day of the corporation s tax year and usually could be withdrawn by the shareholders without tax …   Black's law dictionary

  • Registered Retirement Income Fund — A Registered Retirement Income Fund or RRIF is a tax deferred retirement plan under Canadian tax law. Individuals use an RRIF to generate income from the savings accumulated under their Registered Retirement Savings Plan. As with an RRSP, an RRIF …   Wikipedia

  • earnings — Income. That which is earned; i.e., money earned from performance of labor, services, sale of goods, etc. Revenue earned by an individual or business. Earnings generally include but are not limited to: salaries and wages, interest and dividends,… …   Black's law dictionary

  • Corporate tax in the United States — Part of a series on Taxation Taxation in the United States …   Wikipedia


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