personal income

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Personal income

Total income received from all sources, including wages, salaries, or rents, and the like.

Personal Income

A regular compensation that an individual receives in the form of salary, wages, tips, rents, and/or other sources. An individual earns personal income in order to pay for personal expenses, such as one's mortgage, debt service, groceries, and so forth. Personal income is necessary for an economy to function. Most governments tax personal income differently from both corporate income and investment income.

personal income

The pretax income of individuals and unincorporated businesses. Personal income is an inferior measure of the economy compared with disposable income; however, personal income is easier to compute and is made available on a monthly basis, while disposable income is calculated on a quarterly basis.
References in periodicals archive ?
88 percent personal income growth in the first quarter was slightly better than the national gain of 0.
Personal income for the entire state of Arkansas grew by 4.
There have been some brief periods when Indiana's share of the nation's personal income has risen before falling again.
Total personal income is used as a broad indicator of a region's economic performance over a period of time.
In Germany, across-the-board income tax rate reductions will reduce the top personal income tax rate to 45 percent in 2005 from 53 percent in 1999.
If the trend continues, the share of state revenues from the personal income tax could surpass-the share from the sales tax this year.
It excludes, but personal income includes, employer contributions for employee pension and insurance funds, lump-sum payments except those received as part of earnings, certain in-kind personal current transfer receipts--such as Medicaid, Medicare, and food stamps--and imputed income.
In three of the six states with personal income growth in 2009, a rise in net earnings and transfer receipts offset declines in property income.
This resulted in a reduction in dividends, personal income and disposable personal income which were revised back to 1982.

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