- 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. HENRY CAMPBELL BLACK, M. A.. 1990.
Look at other dictionaries:
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