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The sum that remains following all permissible deductions, including charges, expenses, discounts, commissions, or taxes.

Net assets, for example, are what remain after an individual subtracts the amount owed to creditors from his or her assets. Net pay is the salary an individual actually receives after deductions such as Income Tax and Social Security payments.

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


n., adj. the amount of money or value remaining after all costs, losses, taxes, depreciation of value, and other expenses and deductions have been paid and/or subtracted. Thus the term is used in net profit, net income, net loss, net worth, or net estate.

Copyright © 1981-2005 by Gerald N. Hill and Kathleen T. Hill. All Right reserved.
References in periodicals archive ?
The way Tweedie sees convergence really nets down to finding who's got the better answer.
NEW YORK Up against powerhouse network sweeps programming, ad-supported cable networks faltered during February, with seven of the top-10 ranked nets down in primetime ratings from last year.
Some seemed inconsolable after the final whistle at Carrow Road, with a few still slumped in their seats long after Norwich officials had taken the nets down. Fans know United are in trouble but this defeat hurt because their worst nightmare took one step closer to becoming a reality.
More football pitches than you could shake a stick at, and a magical 10 childhood minutes after every Saturday workies game when you could score goals into an actual real goal net before a bloke on a tractor would come to scatter everyone away and take the nets down.
All the lead had been stripped from the roof by vandals and it was so damp that I was putting fish nets down instead of mouse traps!" he jokes.
Mr Ibbitson said: "Last year, they took the nets down and we argued but lost.