The county has a total population of 34,895 with 47% of the people living in the rural areas. Included in the Martin labor market area and within a radius of 25 miles of Martin are portions of six other Tennessee counties and two counties in Kentucky. Included in this area is a population of over 100,000 people.
DEFINITION of 'Taxable Income'. The amount of income that is used to calculate an individual's or a company's income tax due. Taxable income is generally described as gross income or adjusted gross income minus any deductions, exemptions or other adjustments that are allowable in that tax year.
1 The taxable turnover for a year of assessment from which tax becomes payable has been significantly increased from R150 001 to R335 001, so you can now earn more before you will be taxed. 2  The maximum tax rate has also be halved. 3  See the latest tax rates below.he turnover tax system replaces Income Tax, VAT, Provisional Tax, Capital Gains Tax and Dividends Tax for micro businesses with a qualifying annual turnover of R 1 million or less. A micro business that is registered for turnover tax can, however, elect to remain in the VAT system (from 1 March 2012).