Consolidated Taxable Income

Consolidated Taxable Income means:
the figure on which income tax is computed; it is equal to the separate taxable incomes of members of a group, with adjustments, exclusions, and deductions for items computed on a consolidated basis, as well as intercompany transactions. Former IRC (check if this IRC provision is current here) §§1501-1505.

See the entries Income Tax and State Income Tax in the American Encyclopedia of Law.