### Question
How is the term net basis tax defined?


### Answer
The term **net basis tax** is defined in *26 U.S.C. § 163* as the following:

> any tax imposed by this subtitle which is not a gross basis tax

#### Citation:
  - *26 U.S.C. § 163*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter B-Computation of Taxable Income > PART VI-ITEMIZED DEDUCTIONS FOR INDIVIDUALS AND CORPORATIONS**

