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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.

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.

net

adjective clear, irreducible, leftover, remaining, residual, residuary, surplus, surviving, unexpended
Associated concepts: net assets, net balance, net capital stock, net earnings, net estate, net income, net loss, net premium, net price, net proceeds, net profit, net rents, net revenues, net value, net worth
See also: capture, earn, ensnare, gain, realize, trap
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References in periodicals archive ?
5) Hence, Treasury's recommendations that interest netting apply only to income taxes and only to situations in which there is at least one "non-zero" balance tax year were not adopted.
While the legislative history is silent on how the IRS will implement netting, various action steps would be prudent.
Taxpayer actions required to take advantage of long-awaited interest netting legislation
Box 2 shows a simple numerical example of a funds transfer netting arrangement involving four participants; it illustrates settlement from the perspective of the clearinghouse.
In multilateral netting arrangements that do not involve banks, each participant's net money position is typically settled through a "settlement bank.
A primer on the settlement of payments in the United States
The following examples will further describe offsetting and netting and demonstrate the inequities caused by the IRS's failure to implement global netting.
The absence of netting, however, cost Northern States half a million dollars.
Treasury's global interest netting study recommends unnecessary limitations that would perpetuate inequities for taxpayers
We believe that under the laws of the United States and the various states there is a fairly high degree of certainty that netting contracts would be enforced.
6 are designed to remove any such doubts by providing that, as a matter of federal law, netting provisions of contracts between and among depository institutions, securities brokers and dealers, futures commission merchants, and commodities and securities clearing organizations are valid and binding on the parties.
Statements to the Congress
If, after 10 years of promises, the Treasury Department ultimately concludes that legislation is necessary to effect a solution to the interest netting conundrum, Tax Executives Institute urges the Treasury Department to announce that decision as soon as possible and, moreover, to put forth a detailed recommendation about the shape of any legislative solution.
Tax Executives Institute appreciates this opportunity to comment on the very important subject of interest netting.
Interest netting redux: December 30, 1996
As summarized in Notice 96-18, the IRS has developed crediting procedures to implement netting in limited circumstances.
The IRS refers to the computation of interest netting under such circumstances as "offsetting.
Notice 96-18: interest netting study

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