net income

Total income from all sources minus deductions, exemptions, and other tax reductions.

• Income tax is computed on net income.

— Also termed net earnings. [Cases: Taxation 980. C.J.S. Taxation §§ 1715–1716.]

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词条贡献者

双语律师Terence，国际知名法学院法律专业，擅长翻译各类与油气、资源与采矿业相关的法律文件。