income

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Income

The return in money from one's business, labor, or capital invested; gains, profits, salary, wages, etc.

The gain derived from capital, from labor or effort, or both combined, including profit or gain through sale or conversion of capital. Income is not a gain accruing to capital or a growth in the value of the investment, but is a profit, something of exchangeable value, proceeding from the property and being received or drawn by the recipient for separate use, benefit, and disposal. That which comes in or is received from any business, or investment of capital, without reference to outgoing expenditures.

income

n. money, goods or other economic benefit received. Under income tax laws, income can be "active" through one's efforts or work (including management), or "passive" from rentals, stock dividends, investments and interest on deposits in which there is neither physical effort nor management. For tax purposes, income does not include gifts and inheritances received. Taxes are collected based on income by the federal government and most state governments.

income

noun allowance, annuity, business profits, commercial profits, compensation, consideration, fees, financial remuneration, financial resources, fringe benefits, gain derived from capital, gain derived from labor, gains, gross, gross income, gross reeurn, increase in amount of wealth, livelihood, means, money coming in, net return, pay, payment, pecunia, periodic returns from property or labor, proceeds, profit from conversion of assets, profit from sale, profits, profits of commerce, quaestus, receipts, recompense, return in money, return on capital, revenue, salary, sale proceeds, something produced by capital, stipend, subsidy, value received, vectigal, wage, wages, wealth
Associated concepts: accumulated income, actual income, affordable housing, aggregate income, annual net income, current income, deferred income, division of income, emmloyment law, estimated income, garnishment of income, gross income, income-bearing property, income execution, income tax, income tax evasion, income yield, legacy, life income, low income, minimum wage, net income, retireeent income, social security income
See also: alimony, annuity, capital, earnings, finance, honorarium, money, pay, proceeds, profit, receipt, recompense, rent, resource, retainer, revenue, substance, wage

INCOME. The gain which proceeds from property, labor, or business; it is applied particularly to individuals; the income of the government is usually called revenue.
     2. It has been holden that a devise of the income of land, is in effect the same as a devise of the land itself. 9 Mass. 372; 1 Ashm. 136.

References in periodicals archive ?
regions have the highest and lowest median incomes.
Statistics Canada has produced its first Market Basket Measure of low income.
The US Treasury Department reports that 86 percent of Americans with incomes in the bottom fifth in 1979 were in a higher bracket nine years later.
During the congressional debate, one opponent argued that poor Americans would feel "humiliated and degraded" by not having to pay the income tax, fearing they would lack the "first-class citizenship" accorded those whose incomes were sufficiently high.
To override constitutional issues, income-tax supporters made a push for a 16th Amendment to the Constitution: "The Congress shall have power to lay and collect taxes on incomes.
Nearly 2,400 of the Americans with the highest incomes paid no federal income taxes in 1993, up from just 85 individuals and couples in 1977, the latest available information from the Internal Revenue Service shows.
It is not known if the incomes of reporters and non-reporters are materially different, so that the extent of any resulting bias in the estimates of household income is also unknown.
The more relaxed underwriting guidelines of the FHA and the VA are often needed by families with lower incomes because, compared with families having higher incomes, lower-income families tend to carry relatively higher loads of nonhousing debt, to have a history of credit problems or no credit history at all, and to have fewer assets available to make a down payment and pay closing costs.
For example, the news media publish the annual incomes of corporate executives, university presidents, and heads of charitable organizations; they do not publish the amount of annual consumption by such individuals.
This explosion is based on the agency's belief that citizens underreport their incomes.
A primary support obligation is calculated and then allocated between the parents on the basis of their net incomes.
Over the past 31 years, the Bay Area counties of Contra Costa, Marin, San Mateo, and Santa Clara have consistently reported the highest median incomes.