Gross Income

(redirected from pretax income)
Also found in: Financial, Acronyms.

Gross Income

The financial gains received by an individual or a business during a fiscal year.

For Income Tax purposes, gross income includes any type of monetary benefit paid to an individual or business, whether it be earned as a result of personal services or business activities or produced by investments and capital assets. The valuation of gross income is the first step in computing whether any federal or state income tax is owed by the recipient.

gross income

n. in calculating income tax, the income of an individual or business from all sources before deducting allowable expenses, which will result in net income. (See: income tax)

References in periodicals archive ?
For a reconciliation of 2005 core operating earnings to pretax loss as determined by generally accepted accounting principles, a reconciliation of 2005 pretax income before impairments, restructuring costs and other special items to pretax loss and a reconciliation of 2005 free cash flow to net cash provided by operating activities, see the supplemental data page which, together with this press release, have been posted on the Company's website through the Investor Relations link at http://www.
Pretax income from UGI's AmeriGas Propane operations was $26,500,000 for the quarter, down from $30,500,000 for the same period a year ago.
Revenues $268,729 $245,457 Cost of sales 251,030 232,940 Gross margin 17,699 12,517 Joint venture income 3,900 4,640 Interest expense 5,046 298 General and administrative expense 9,517 9,866 Other income 738 381 Homebuilding and corporate pretax income 7,774 7,374 Manufacturing pretax income (loss) 1,427 (9)
For example, for one out of 10 companies studied, recognizing a 10% increase in retirement plan obligations as cost would have turned 2004 pretax income into a loss.
Pretax income for the six-month period was $905,689 in comparison with $445,045 for the same period a year ago, a 104 percent increase.
Included in the year-ago earnings was $439,000 in pretax income from a Bank Enterprise Award (BEA) grant that M&F Bank received recognizing the support that the Bank has provided to economically distressed communities.
Third quarter domestic homebuilding pretax income increased 44% to $618 million, up from prior year pretax income of $429.
Pretax income of $1,471,000 for the year ended June 30, 1994 increased 19 percent from the pretax income of $1,236,000 for the corresponding period of the prior year.
On a consolidated GAAP basis, BCBSFL earned pretax income of $435 million in 2004 compared to GAAP pretax of income of $425 million in 2003.
Pretax income increased 12% over prior year third quarter, on pretax income of $246,000.
Income demonstrated significant growth as well, with pretax income up more than 100% from the previous recording period, from $229,400 to $470,100.