net income
Definitions from Case Law · United States Supreme Court
Definitions from Case Law
From 553 U.S. 507 - United States v. Santos · 2008Most cited · 1,401 citing opinions
[t]he excess of revenues over all related expenses for a given period." R. Estes, Dictionary of Accounting 88 (1981) (emphasis deleted).
How the Supreme Court has restated “net income”
Each Supreme Court definition of “net income,” sized by how often later courts cited it. “Change” is measured by wording overlap with earlier definitions — a rough signal, not a semantic judgment.
How often courts cite the cases defining “net income”
Court decisions citing the 4 opinions that defined “net income” — 1,923 in all, by decade. Counts are citations to the defining cases as a whole, not verified uses of the term. The dip in the most recent years is a data-coverage gap, not a real trend — our corpus holds fewer opinions from the latest years.
All 4 definitions, chronological · 1928–2008
- ORIGINAL
the gross income less— (1) The amount of interest received during the taxable year which under paragraph (4) of subdivision (b) of section 213 is exempt from taxation under this title, [interest on tax-exempt securities]; (2) An amount equal to the excess, if any, over the deduction specified in .paragraph (1) of this subdivision of 4 per centum of the mean of the reserve funds required by law and held at the beginning' and end of the taxable year, plus [
the gross income as defined in section 213, less the deductions allowed by section 214.
the gross income as defined in section 985(233) less the deductions allowed by sections 986(234) and 937(206), and the net income shall be computed on the same basis as is provided in subdivisions (b) and (d) of section 953(212) or in section 968(226).