Net Profits - Law Dictionary Search Results
Net profits
Matched in: Term Net profits
net profit after taxes
Matched in: Term net profit after taxes
net profit before taxes
Matched in: Term net profit before taxes
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Income or net income
Matched in: Term Income or net income
gross profit
gross profit Net sales minus the cost of goods sold … gross profit Net sales minus the cost of goods sold
Earned surplus
Earned surplus, it represents a specific account into which are added the net profits of the year and appropriations are made out of it and the balance is regarded as 'earned surplus' … allocated for utilisation for the purpose of business year after year. It is an account in which the net profits less the appropriations are added, and the account is intended for application in extending the business of the
Uses
separate use; and so of a trust to permit and suffer a party to receive and take the net rents and profits. (4) A second use, or a use upon a use. The Common Law judges determined
Casualty Pot
1231 in which qualified casualty gains and losses are added together to determine if the result is a net loss or net gain compare main pot NOTE: Property that qualifies for inclusion in the Casualty Pot consists … assets held for more than one year in connection with a trade or business or transaction made for profit. If the net result of the calculation is a loss, then the ordinary rules for gains and losses
Main Pot
held for more than one year in connection with a trade or business or transaction entered into for profit. If the net result is a gain, then the transactions are treated as long-term capital gains and losses. … a step in calculating tax liability under Internal Revenue Code section 1231 in which all qualified transactions are netted to determine if the result is a loss or gain called also Big Pot Hodge Podge hotchpot; compare
Maintainable profits
Matched in: Term Maintainable profits
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