gross income

(redirected from Gross Annual Income)
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Gross income

A person's total income prior to exclusions and deductions.

Gross Income

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.

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.

gross income

The total revenue of a business or individual before deduction for expenses, allowances,depreciation,or other adjustments.

Gross Income

Total worldwide income received in the form of money, property, or services that is subject to tax unless specifically exempt or excluded by law.
References in periodicals archive ?
So, how do you know, when you enter an establishment, what percentage of its "gross annual income" comes from food sales?
Remember that the family's payment toward the rent (called the total tenant payment or TTP) is based on "adjusted income." This means that the family's gross annual income is adjusted by subtracting all of the following mandatory deductions that are applicable:
In Redcar and Cleveland the average house price was pounds 126,036, average income was pounds 15,080, but the gross annual income needed for a 95% mortgage was pounds 34,210.
(1) A financial affidavit in substantial conformity with Florida Family Law Rules of Procedure Form 12.902(b) if the party's gross annual income is less than $50,000, or Florida Family Law Rules of Procedure Form 12.902(c)if the party's gross annual income is equal to or more than $50,000.
More than half (56%) of households with a gross annual income of less than pounds 17,500 were opposed to genetic modification, as were 60% of households earning more than pounds 50,000.
For a couple with two school-age children earning an average joint gross annual income of pounds 28,500 - pounds 78 a day - there is little room for luxuries.
They would also call for changing the method of calculating the premiums for health insurance policies, from a monthly income basis to gross annual income, and increasing the amount charged, beginning in April.
The average homebuyer spends around 17.5pc of gross annual income on mortgage payments, compared to a peak of almost 33pc in 1990.
The average buyer in the region now spends just under 26 per cent of their gross annual income on mortgage payments compared to a peak of more than 36 per cent in 1990.
When two people apply for a mortgage almost all banks or building societies will loan three times the gross annual income of the higher earner, plus one and a quarter times the second income.
Income protection insurance, offers you a monthly benefit of between 50 and 60 per cent of your gross annual income, tax free, if you are unable to work through illness.
They often planned years in advance and paid several times their gross annual income to construct a hall, and some even built during economic adversity.