Tag: NE
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Negligence
Negligence means:a lack of due care or failure to do what a reasonable and ordinarily prudent person would do under the given circumstances. A lack of due care or failure to do what a reasonable and ordinarily prudent person would do under the given circumstances. The term covers (1) omission of…
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Negative Income Tax
Negative Income Tax means:a proposed system of providing financial aid to poverty-level individuals and families, using the mechanisms already in place to collect income taxes. A proposed system of providing financial aid to poverty-level individuals and families, using the mechanisms already in…
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Nexus
Nexus means:a sufficient presence within the jurisdiction of a taxing authority. The taxable income of a multistate corporation may be apportioned to a specific state only if the corporation has a sufficient nexus in the state. (The Nexus Link is often a requirement in tax law for determination …
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Net Worth Method
Net Worth Method means:an indirect method the U.S. Internal Revenue Service uses to determine the taxable income of a taxpayer when the U.S. Internal Revenue Service (IRS) suspects unreported income. Any increase or decrease in a perso…
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Net Working Capital
Net Working Capital means:current assets less current liabilities. See also other Tax Terms and Definitions in U.S.A. working capital; Bardahl formula….
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Net Estate
Net Estate means:the amount that, under federal and state statutes, is subject to an estate tax; generally, the estate remaining after all debts of the decedent, funeral and administrative expenses, and other deductions prescribed by law have been subtracted from the gross estate (total fair mar…
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Net Profit
Net Profit means:the amount of money earned after all expenses, including overhead, employee salaries, manufacturing costs, and advertising costs, have been deducted from the total revenue. Net profit or loss = gross profit less business expenses. If the expenses are less than income, the differ…
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Net Proceeds
Net Proceeds means:the amount (usually cash) received from the sale or disposition of property, from a loan, or from the sale or issuance of securities, after deduction of all costs incurred in the transaction have been deducted. Example of Net Proceeds: <a href="http://lawi.us/tax-examples-exp…
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Net
Net means:the opposite of gross. 1. (adj.) remaining after all relevant deductions have been made from the gross amount. For example, net sales are equal to gross sales minus discounts, returns, and allowances; net profit is gross profit less operating (sales, general, and administrative) expens…
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Net Investment Income
Net Investment Income means:the excess of investment income over investment expenses. Individuals are allowed to deduct investment interest expense to the extent of net investment income….