contribution base
English
Noun
contribution base (plural contribution bases)
- (tax law) The adjusted gross income of a taxpayer, excluding any deductions for net operating loss carrybacks.
- 2005, Bruce R. Hopkins, The Tax Law of Charitable Giving, page 189:
- The maximum federal income tax charitable contribution deduction for a tax year for an individual is 50 percent of his or her contribution base.
- 2006, Robert Holzmann, Edward E. Palmer, Edward L. Palmer, Pension Reform, page 118:
- As the average annual growth in the contribution base over the same period was only 0.3 percent, the common simplification that the rate of return equals the growth in the contribution base revealed less than half of the true return.
- 2008, Catherine W. Wilkinson, Jean M. Baxley, Charitable Giving Answer Book 2009, page 3-10:
- Such taxpayers calculate their contribution base jointly and can deduct charitable contributions, by whomever made, up to the applicable percentage of the joint contribution base.
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Translations
- Spanish: base de cotización f