proceeds
Defined in 7 dictionaries — Case Law, U.S. Code, Cyclopedic (1922), Black's (1910), Kinney (1893), Anderson (1889), Abbott (1879)
Definitions from Case Law
From 553 U.S. 507 - United States v. Santos · 2008Most cited · 1,401 citing opinions
profits' when there is no legislative history to the contrary." "Ante, "at 523.
United States Code
18 U.S.C. § 1956 — as used in this section
the term “proceeds” means any property derived from or obtained or retained, directly or indirectly, through some form of unlawful activity, including the gross receipts of such activity.
18 U.S.C. § 1957 — as used in this section (2 versions over time)
the terms “specified unlawful activity” and “proceeds” shall have the meaning given those terms in section 1956 of this title.
18 U.S.C. § 2339C — in this section
the term “proceeds” means any funds derived from or obtained, directly or indirectly, through the commission of an offense set forth in subsection (a);
18 U.S.C. § 981 — in this section (8 versions over time)
For purposes of paragraph (1), the term “proceeds” is defined as follows:
(A) In cases involving illegal goods, illegal services, unlawful activities, and telemarketing and health care fraud schemes, the term “proceeds” means property of any kind obtained directly or indirectly, as the result of the commission of the offense giving rise to forfeiture, and any property traceable thereto, and is not limited to the net gain or profit realized from the offense.
(B) In cases involving lawful goods or lawful services that are sold or provided in an illegal manner, the term “proceeds” means the amount of money acquired through the illegal transactions resulting in the forfeiture, less the direct costs incurred in providing the goods or services. The claimant shall have the burden of proof with respect to the issue of direct costs. The direct costs shall not include any part of the overhead expenses of the entity providing the goods or services, or any part of the income taxes paid by the entity.
(C) In cases involving fraud in the process of obtaining a loan or extension of credit, the court shall allow the claimant a deduction from the forfeiture to the extent that the loan was repaid, or the debt was satisfied, without any financial loss to the victim.
26 U.S.C. § 7623 — for purposes of this section (5 versions over time)
For purposes of this section, the term “proceeds” includes—
(1) penalties, interest, additions to tax, and additional amounts provided under the internal revenue laws, and
(2) any proceeds arising from laws for which the Internal Revenue Service is authorized to administer, enforce, or investigate, including—
(A) criminal fines and civil forfeitures, and
(B) violations of reporting requirements.
The Cyclopedic Law Dictionary
Walter A. Shumaker and George Foster Longsdorf; ed. James C. Cahill · 1922
Money or articles of value arising or obtained from the sale of property. Goods purchased with money arising from the sale of other goods, or obtained on their credit, are proceeds of such goods. 2 Pars. Mar. Law, 201, 202. The sum, amount, or value of goods sold, or converted into money. Wharton. It is a term of equivocal import, depending on the context. 89 Pa. St. 46. PROCERES (Lat.) The name by which the chief magistrates in cities were formerly known. St. Armand, Hist. Eq. 88.
Black's Law Dictionary
Henry Campbell Black, M.A. · 1910
A Law Dictionary and Glossary
George C. Kinney · 1893
Money obtained from the sale of property; goods or other articles of value, proceeding from the sale of property.
A Dictionary of Law
William C. Anderson · 1889
A word of great generality, but not necessarily money. '" ' Nudd n. Burrows, 91 U. S. 441 (1875), Swayne, J.; Lamaster v. Keeler, 123 id. 388 (1887). = E. S. § 913. " Wilson «. Allen, 3 How. Pr. »371 (1849),- Han-is, J. < Bulkeley v. Keteltas, 3 Sandf. 741 (1851); 48 Barb. 119; 3 S. 0. 338. « [Eich V. Husson, 1 Duer, 630 (1852), Duer, J. " Morewood v. Hollister, 6 N. Y. 319-20 (1852), Gardiner, J.; Gordon v. State, 4 Kan. 601 (1808). ' Dodd V. Middleton, 63 Ga. 638 (1879); 57 id. 140. » Langstafl v. Miles, 5 Monta. 554 fl885)..: The income of an estate, i Power to dispose of land and to take In return such proceeds as one thinks best includes power to exchange for other lands.^
Dictionary of Terms and Phrases Used in American or English Jurisprudence
Benjamin Vaughan Abbott · 1879
Insurance upon the proceeds of the outward cargo, effected by a valued policy on -a voyage out and home, the credit of the outward. Haren v. Gray, 12 Mass. 71. In general, the expression proceeds of a cargo includes the return or substituted cargo, or property, acquired by sale or exchange of the goods originally shipped. Dow V. Hope Ins. Co., 1 Hall, 166. But where insurance was effected on goods "out," and the "proceeds thereof home," it was held that, if the identical goods composing the outward cargo were brought home, as in the return voyage, they could not be considered as included in the words proceeds home, nor as covered by the policy. Dow u. Whetten, 8 Wend. 160. Proceeds was held to mean the amount of money that in the future would be obtained for the property upon a disposition of it by sale, in Belmont v. Powvert, 35 N. Y. Superior Ct. 208.