(especially in legal usage) a person who purchases or contracts to purchase; buyer. Origin of emptor. 1870-1875. 1870-75; < Latin: buyer, equivalent to em(ere) to buy + -tor -tor, with intrusive -p-. Examples from the Web for emptor.
Taxes. Because rent is considered income, it is taxable to the extent that your income is taxable. For example, if your income (including rent) minus any allowable exemptions and deductions is still taxable, then your rent is taxable. However, if you also use the rental property as your home, and you rent it out less than 15 days out of the year, then the rent you collect is not considered part of your income.
The taxable amount equals the total gross income less the total deductions. This is the total amount subject to tax. Because each tax type (i.e. B&O, public utility, retail sales tax, etc.) has its own tax rate and taxable amount, there is not a single tax rate you can use to derive the total tax due.