I. ˈtaksəbəl adjective
Etymology: Middle English, from taxen to tax + -able
1. : capable of being taxed : liable by law to the assessment of taxes
2. : that may be legally charged by a court against the plaintiff or defendant in a suit
taxable costs
3. obsolete : censurable
4. : used as the basis of a tax computation
the taxable year
taxable horsepower
• tax·able·ness noun -es
• tax·a·bly -blē, -li adverb
II. noun
( -s )
: one that is liable to a tax : a subject for taxation, whether property, person, corporation, or other legal entity