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Effective Gross Income

Function: noun

Definition 1:
Normal annual income including overtime that is regular or guaranteed. The income counted is from all sources combined. Salary is generally the principal source, but other income may qualify if it is significant and stable. Effective gross income could be a concept used to determine the income potential of office space. If space rents for a particular dollar amount per square foot, then that rate multiplied by the total amount of square feet minus some allowance for vacancees and other miscelanneous considerations could be said to be the effective gross income.

Thesaurus / Related Terms
Effective Age