less than 1 minute read

Net

The sum that remains following all permissible deductions, including charges, expenses, discounts, commissions, or taxes.

Net assets, for example, are what remain after an individual subtracts the amount owed to creditors from his or her assets. Net pay is the salary an individual actually receives after deductions such as INCOME TAX and SOCIAL SECURITY payments.

Additional topics

Law Library - American Law and Legal InformationFree Legal Encyclopedia: National Environmental Policy Act of (1969) to Notice