Net
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Net
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.
net
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.