original income

original income

the INCOME received by a household (or person) before allowing for any payment of INCOME TAX and other taxes, and the receipt of various TRANSFER PAYMENTS (social security benefits, etc.). Compare FINAL INCOME. See PERSONAL DISTRIBUTION OF INCOME, REDISTRIBUTION OF INCOME PRINCIPAL OF TAXATION.
References in periodicals archive ?
The Group is therefore entitled to enjoy preferential tax treatment for three consecutive years from 2017 to 2019, during that time, paying an enterprise income tax rate of 15% (the original income tax rate being 25%).
While the company will not be able to hit its original income target, the P150 million profit is still a huge jump from the P18 million it earned last year.
Original income is money which does not come from government intervention.
Which path may be available depends on whether the taxpayer (1) files the delinquent forms with an original, but untimely, federal income tax return or (2) files the delinquent forms with an amended income tax return and the original income tax return was timely filed.
A taxpayer makes the election by filing a statement with the taxpayer's original income tax return for the tax year (Regs.
This can mean that people are left to rely on their own resources, or turn to state benefits, which usually pay less than their original income.
Given this loan increase, we are confident to exceed the original income target of the bank for the year," said PSBank executive vice president Jose Vicente Alde.
inc offers a 7 percent simple interest roll-up on the original income benefit base and a 5 percent payout if withdrawals begin at age 65.
The business is going really well, and we're doing three times our original income projections.
In other words, about 63 percent of the original income difference between white male professors and black male professors cannot be explained by variations in individual characteristics that had been controlled.
The property has already booked for 23 weeks, exceeding the original income estimate of a net annual return of just over pounds 12,000, with a gross revenue of pounds 15,000-plus so far this year.
The original Income War Tax Act (1917) was 10 pages in length.