Gross Income

(redirected from pretax income)
Also found in: Financial, Acronyms.

Gross Income

The financial gains received by an individual or a business during a fiscal year.

For Income Tax purposes, gross income includes any type of monetary benefit paid to an individual or business, whether it be earned as a result of personal services or business activities or produced by investments and capital assets. The valuation of gross income is the first step in computing whether any federal or state income tax is owed by the recipient.

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

gross income

n. in calculating income tax, the income of an individual or business from all sources before deducting allowable expenses, which will result in net income. (See: income tax)

Copyright © 1981-2005 by Gerald N. Hill and Kathleen T. Hill. All Right reserved.
References in periodicals archive ?
Thus, the adjustments, up or down, to the valuation allowance for deferred tax assets may far exceed pretax income or loss.
The company expects pretax income to fall 34% to JPY240.0 billion.
Adjusted pretax income plunged 93.5% to $7.59 million from $117.4 million.
What's the aggregate likely misstatement of RST's 1990 pretax income?
In the lender's Domestic Markets - which covers Belgium, France, Italy and Luxembourg - pretax income slipped 7.4% year-on-year to EUR610 million.
Says raised full year Retail segment pretax income guidance to a range of $1.525B to $1.675B from a range of $1.45B to $1.61B and lowered benefit ratio to a range of 85.1% to 86% from previous guidance range of 85.2% to 86.2%.
The Servicing segment earned $88 million GAAP pretax income or $72 million adjusted pretax income (5.8 basis points).
Adjusted Pretax Income was USD 43.0 million for the nine months ended September 30, 2017 compared with USD 50.4 million for the nine months ended September 30, 2016.
With that, pretax income tumbled 37.1% to $14.1 million.
With that, pretax income soared 63.2% to $496.7 million from $304.3 million.
The company has also provided revenue and pretax income guidance for Q2 2005 and a pretax income guidance for the full year.