Separate Taxable Income

Separate Taxable Income

Separate Taxable Income means:
the taxable income of each member corporation of an affiliated group. As a first step in computing the consolidated taxable income of the group, separate taxable income is computed according to the rules that apply in computing the taxable incomes of individual corporations, with certain exceptions.

Separate Taxation in the U.S. and other Developed Countries International Tax Meaning

Separate taxation is a method of taxing a married couple on the basis of their joint income. It is mandatory in some countries and optional in others. Upon exercising an option for separate taxation, a husband and wife are treated as separate individuals for the purpose of computing income tax.

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


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