Gross Income

(redirected from Pre-Tax Income)
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.

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

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)

Copyright © 1981-2005 by Gerald N. Hill and Kathleen T. Hill. All Right reserved.
References in periodicals archive ?
GAAP pre-tax loss of $3.4 million, versus GAAP pre-tax income of $2.6 million.
IDG's second business unit, the Mobile Business Group, delivered another profitable quarter and improved pre-tax income by $100M for the 4th consecutive quarter.
Midstream second-quarter pre-tax income was $423 million, compared with $316 million in the first quarter of 2019.
Millions of Dollars Pre-Tax Income Adjusted Pre-Tax Income Q2 2019 Q1 2019 Q2 2019 Q1 2019 Transportation $ 245 203 245 203 NGL and Other 143 90 143 90 DCP Midstream 35 23 35 23 Midstream $ 423 316 423 316 Midstream second-quarter pre-tax income was $423 million, compared with $316 million in the first quarter of 2019.
(OTC: HRRB), the holding company for Horizon Community Bank, has reported growth in quarterly pre-tax income of 37.5 percent for the period of January 1, to June 30, 2019, over the same period, prior year.
March quarter 2019 adjusted pre-tax income of USD 832 million, adjusted net income of USD 639 million and adjusted earnings per diluted share of USD 0.96 on total adjusted revenue of USD 10.4 billion.
American Delta Air Lines has released its financial results for the last quarter and full year 2018 indicating that for the full year, the airline's adjusted pre-tax income stood at $5.1 billion, operating a $137 million decrease relative to what was recorded in 2017 as the company overcame approximately 90 per cent of the $2 billion increase in fuel expense.
We delivered 1,422 homes in the third quarter, a 13% increase over last year, and our pre-tax income improved by 14% reaching a third quarter record of $39.5 million.
Reported pre-tax income of $6.3 billion in Q1 would have been $9 billion higher, save for the accounting change.
Credit Suisse Group 3Q13 results reported a core pre-tax income of CHF 930 million, net income attributable to shareholders of CHF 698 million and return on equity of seven per cent
According to our computation, Meralco should have earned a pre-tax income of only 12 percent or P1.8 billion in 2011; instead it earned 145 percent or P21.8 billion.