symmetric monoidal (∞,1)-category of spectra
A power series in a variable $X$ and with coefficients in a ring $R$ is a series of the form
where $a_n$ is in $R$ for each $n\ge 0$. Given that there are no additional convergence conditions, a power series is also termed emphatically as a formal power series. If $R$ is commutative, then the collection of formal power series in a variable $X$ with coefficients in $R$ forms a commutative ring denoted by $R [ [ X ] ]$.
More generally, a power series in $k$ commuting variables $X_1,\ldots, X_k$ with coefficients in a ring $R$ has the form $\sum_{n_1=0,n_2=0,\ldots, n_k = 0}^\infty a_{n_1\ldots n_k} X_1^{n_1} X_2^{n_2}\cdots X_k^{n_k}$. If $R$ is commutative, then the collection of formal power series in $k$ commuting variables $X_1,\ldots, X_k$ form a formal power series ring denoted by $R [ [ X_1,\ldots, X_k ] ]$.
More generally, we can consider noncommutative (associative unital) ring $R$ and words in noncommutative variables $X_1,\ldots, X_k$ of the form
(where $m$ has nothing to do with $k$) and with coefficient $a_w \in R$ (here $w$ is a word of any length, not a multiindex in the previous sense). Thus the power sum is of the form $\sum_w a_w X_w$ and they form a formal power series ring in variables $X_1,\ldots, X_k$ denoted by $R\langle \langle X_1,\ldots, X_k \rangle\rangle$. Furthermore, $R$ can be even a noncommutative semiring in which case the words belong to the free monoid on the set $S = \{ X_1,\ldots, X_k\}$, the partial sums are then belong to a monoid semiring $R\langle S\rangle$. The formal power series then also form a semiring, by the multiplication rule
Of course, this implies that in a specialization, $b$-s commute with variables $X_{i_k}$; what is usually generalized to take some endomorphisms into an account (like at noncommutative polynomial level of partial sums where we get skew-polynomial rings, i.e. iterated Ore extensions).
For a natural number $k$, a power series $\sum_{n=0}^\infty a_n X^n$ such that $a_n = 0$ for all $n \gt k$ is a polynomial of degree at most $k$.
For $f \in C^\infty(\mathbb{R})$ a smooth function on the real line, and for $f^{(n)} \in C^\infty(\mathbb{R})$ denoting its $n$th derivative its MacLaurin series (its Taylor series at $0$) is the power series
If this power series converges to $f$, then we say that $f$ is analytic.
A formalization in homotopy type theory and there in Coq is discussed in section 4 of