Gross Income

(redirected from Gross earnings)
Also found in: Financial.

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 classic literature ?
Perhaps his bitterest fight was with the stockholders of the United Water Company, for it was practically the whole of the gross earnings of this company that he voted to lend to himself and used to bolster up his wide battle front.
And in 1882 there came such a telephone boom that the Bell System was multiplied by two, with more than a million dollars of gross earnings.
Gross earnings increased by six percent to P215 billion.
The increase in gross earnings was led by business services industry with R9.
Moreover, improvement in production and price caused the turnaround in gross earnings of garlic which grew by 101.
Under the Television License Fees Act 1964, commercial TV broadcasters were required to pay a percentage of their gross earnings as fees for using the public asset of radio spectrum.
Gross earnings for the North American wholesale segment was 32.
Projected GPS 72K based on current gross earnings 6-7K monthly.
Business valuation in the policy will address either gross earnings or gross profits for applying coverage.
In 2012, Core Properties reported gross earnings of USD 125,000.
For the fourth quarter of last year, gross earnings increased to BD3.
In this study, using data from income tax statements aggregated at the regional level we estimate the elasticity of income tax to gross earnings over the period 2005-2010.