- ordinary income
ordinary income n: income that does not derive from the exchange or sale of capital assets or property used in one's trade or business and that for individuals includes compensation, interest, dividends, and short-term capital gains
Merriam-Webster’s Dictionary of Law. Merriam-Webster. 1996.
- ordinary income
n.Earnings from work or business as opposed to income from investments.
The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. Amy Hackney Blackwell. 2008.
Look at other dictionaries:
Ordinary Income — Income received that is taxed at the highest rates, or ordinary income rates. Ordinary income is composed mainly of wages, salaries, commissions and interest income (as from bonds). Ordinary Income can only be offset with… … Investment dictionary
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ordinary income — Income from regularly recurring sources, such as earnings from work, interest, and dividends, as distinguished from a bonanza, winnings tin a horse race, the prize won in a contest, or a capital gain realized on a sale of property. Sloane v… … Ballentine's law dictionary
ordinary income — taxable income, as salary and wages, other than capital gains. * * * … Universalium
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ordinary income — taxable income, as salary and wages, other than capital gains … Useful english dictionary
ordinary — or·di·nary adj: of a kind to be expected from the average person or in the normal course of events; broadly: of a common kind or degree an ordinary proceeding compare extraordinary Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 … Law dictionary
income — in·come n: a gain or recurrent benefit usu. measured in money that derives from capital or labor; also: the amount of such gain received in a period of time an income of $20,000 a year Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 … Law dictionary
Income tax in the United States — UStaxationThe federal government of the United States imposes a progressive tax on the taxable income of individuals, partnerships, companies, corporations, trusts, decedents estates, and certain bankruptcy estates. Some state and municipal… … Wikipedia
ordinary — 1. noun At common law, one who had exempt and immediate jurisdiction in causes ecclesiastical. Also a bishop; and an archbishop is the ordinary of the whole province, to visit and receive appeals from inferior jurisdictions. Also a commissary or… … Black's law dictionary