gross income(redirected from Gross Annual Income)
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An individual or company's income before taxes and deductions. For individual income, it is calculated as the individual's wages or salary, investment and asset appreciation, and the amount made from any other source of income. In a company, it is calculated as revenues minus expenses. An individual's gross income is important to determining eligibility for certain social programs, while a company's gross income is one measure among many of how well it uses its resources to produce a profit. See also: Adjusted gross income.
1. For a business, its total revenues exclusive of any expenses.
2. For an individual, all income except as specifically exempted by the Internal Revenue Code. For example, an inheritance is specifically excluded from gross income.
The total revenue of a business or individual before deduction for expenses, allowances,depreciation,or other adjustments.
Total worldwide income received in the form of money, property, or services that is subject to tax unless specifically exempt or excluded by law.