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of <h1>Tonnage tax income equals each qualifying ship's daily tonnage income times days operated, with net tonnage slab rates</h1> Tonnage income for a tonnage tax company is the sum of each qualifying ship's tonnage income, calculated as the ship's daily tonnage income multiplied by days operated in the year (or part year). Daily tonnage income is determined by the ship's net tonnage using prescribed slab rates per 100 tons. Tonnage is the figure on the certificate (including inland vessels and prescribed 'deemed tonnage' for slot/charter/share arrangements), rounded to the nearest hundred tons by specified rules. No deductions or set-offs are permitted in computing tonnage income.
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