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.
References in periodicals archive ?
In addition, since negative adjustments in one year may not be netted against positive adjustments from another, a group should attempt to match positive and negative adjustments to the extent possible.
In contrast to a payment-only netting system like CHIPS, the Federal Reserve also directly supports net settlement for two arrangements in which payments associated with the clearing of financial instruments are netted and settled across Fedwire.
In effect, once a tax year is included in a global netting computation, the netted interest amount will be reflected and will generally not be subject to future adjustment.