Indiana Code 30-2-14-8. “Net income” defined
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Terms Used In Indiana Code 30-2-14-8
- accounting period: means a calendar year unless another twelve (12) month period is selected by a fiduciary. See Indiana Code 30-2-14-1
- income: means money or property that a fiduciary receives as current return from a principal asset. See Indiana Code 30-2-14-4
Sec. 8. As used in this chapter, “net income” means the total receipts allocated to income during an accounting period minus the disbursements made from income during the period, plus or minus transfers under this chapter to or from income during the period.
As added by P.L.84-2002, SEC.2.