1. Business: Income that is obtained by day-to-day business transactions, excluding the sale of capital. 2. Personal: The amount of an individual?s income that is subject to full tax rates (and not lower tax rates).
Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.
1. Business: Income that is obtained by day-to-day business transactions, excluding the sale of capital. 2. Personal: The amount of an individual?s income that is subject to full tax rates (and not lower tax rates).
This article contains general legal information but does not constitute professional legal advice for your particular situation. The Law Dictionary is not a law firm, and this page does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.
Powered by Black’s Law Dictionary, Free 2nd ed., and The Law Dictionary.