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.
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GAAP pre-tax loss of $3.4 million, versus GAAP pre-tax income of $2.6 million.
QAD Reports Fiscal 2020 Second Quarter and Year-To-Date Financial Results
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Phillips 66 (PSX(NYSE)
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.
Phillips66
(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.
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Reported pre-tax income of $6.3 billion in Q1 would have been $9 billion higher, save for the accounting change.
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