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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
References in periodicals archive ?
While the legislative history is silent on how the IRS will implement netting, various action steps would be prudent.
Determine the appropriate interest computations assuming netting principles are applicable.
In determining the appropriate deficiency interest due on the 1989 deficiency of $1 million the taxpayer requests that IRS apply the netting procedures to the period of mutual indebtedness.
In multilateral netting arrangements that do not involve banks, each participant's net money position is typically settled through a "settlement bank.
Two types of risk arise in bilateral and multilateral netting arrangements: namely, credit and liquidity risk.
In the case of bilateral netting arrangements, banks must evaluate the credit and liquidity risk assumed with the bank on the other side of the bilateral netting arrangement-the "counterparty.
The absence of netting, however, cost Northern States half a million dollars.
The Treasury study states that interest netting was "urged" by Congress.
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.
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.