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Earnings Before Taxes

A measure of a company's ability to produce income on its operations in a given year. It is calculated as the company's revenue less its expenses (such as overhead), but not subtracting its tax liability. EBIT represents cash available to pay off creditors in the event of liquidation, and, as such, it is closely watched, especially when comparing companies in jurisdictions with different tax laws. However, it is not as common a measure as earnings before interest and taxes.

Electronic Benefits Transfer

A system in which a government grants a citizen a card with features like a debit card to dispense public service benefits. For example, most U.S. states use electronic benefits transfer for food stamps. The recipient of food stamps receives a debit card with a certain amount of money pre-programmed into it and the recipient can use it to buy food. Not all establishments accept electronic benefits transfers for payment (just as not all stores accepted actual food stamps), but many do. Electronic benefits transfers are also sometimes used for other welfare programs.

Electronic benefits transfer (EBT).

Electronic benefits transfer, or EBT, is a system through which recipients of certain government benefits receive and spend funds electronically, using a plastic EBT card similar to a bank debit card.

Benefits are deposited electronically into the recipient's program account. The recipient can then use his or her EBT card to make purchases, which are debited from the account.

All states now use EBT in addition to traditional paper coupons to distribute food stamp benefits. Some states also use EBT to disburse benefits for other programs, including the US Department of Agriculture's Special Supplemental Nutrition Program for Women, Infants, and Children (WIC) and the Temporary Assistance to Needy Families (TANF) programs.

There are no fees when recipients use EBT cards for purchases, but fees may apply to cash withdrawals from ATMs or electronic balance inquiries.

References in periodicals archive ?
He was clear that the EBT payments were earnings, and should have been taxed under PAYE.
If so, it is clear that EBT is not the only source of income for most recipients.
Even with this innovation, however, there continue to be costs associated with issuing TANF benefits on EBT cards.
And for all its sophistication, the EBT scan is one of the easiest and quickest medical tests available.
All transactions are validated by the eFunds EBT system before benefits are paid.
is primarily engaged in designing, manufacturing, marketing, and supporting high performance EBT scanners based on the company's proprietary electron beam tomography (EBT) technology.
At least three coalitions - the Southern Alliance of States (SAS), the Northeast Coalition of States (NCS and the Western EBT Project - are committed to the national rules and standards, although it is still up to individual states to ultimately adopt them in contracts with service providers, says Helena Sims, senior director of the EBT Council.
As EBT programs developed in the early 1990s, the Board considered whether, and in what manner, Regulation E ought to apply.
In my 34-year career in public service, EBT is perhaps the only effort that is liked by just about everybody.