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.

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.

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.

Copyright © 1981-2005 by Gerald N. Hill and Kathleen T. Hill. All Right reserved.

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.

A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.
References in periodicals archive ?
However looking ahead, BMO UK High Income said it is confident in a more positive outcome over the longer term.
Nelson joined W&R in 1995 and had managed the High Income Fund since 2008.
Hospitalizations for less severe cardiovascular diseases were highest in the high income countries.
Close High Income Properties is a listed property investment company and owns more than pounds 100m of commercial property.
As in the basic model, a taxpayer with low income always reports low, while a taxpayer with high income chooses a mixed reporting strategy so as to make the tax authority indifferent between auditing and not auditing low reports.
Invesco High Income Trust II (NYSE:VLT) disclosed on Friday that its board of directors approved a dividend of USD0.09641 per share for August 2019.
Ivy High Income Opportunities Fund (NYSE: IVH) has announced a monthly distribution of USD 0.12 per common share, the company said.
US-based closed-end management investment companies Western Asset Managed High Income Fund Inc.
This change may create n opportunity for high income married taxpayers to reduce their federal income tax liability by filing separate returns.
High Income Securities Fund Inc (NYSE:PCF) on Saturday declared a distribution of USD0.048 per share for August and September 2019.
BANKING AND CREDIT NEWS-January 5, 2016-Swank Capital, Cushing Asset Management rebalance Cushing MLP High Income Index

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