What Is Gross Income?

There are many types of total income, that is, total income, such as gross national income and total operating income. Total personal income is the sum of an individual's income over a specific period (one month, half a year, or one year), including salary, wages, government subsidies, pensions, interest income, dividend income, and other income. Individuals can use their total income to pay taxes, purchase a variety of products and services, donate to public interest groups or individuals, engage in investment, and if there is a surplus, they can save up for emergency needs. ^[1]

Gross income

There are many ways to categorize total budget revenue, for example:

That is, gross national product, which refers to the ownership of a country (or region).

Refers to various incomes directly related to the production and operation of the enterprise, including

Refers to the agricultural, forestry, animal husbandry, fishing, industrial, construction industry, which can be used to offset the current year's income from the operating income of each production and operation unit within the statistical scope and can be distributed among the state, collectives, farmers and related units, Various operating income such as transportation, commerce, catering, and service industries, as well as non-productive income such as interest and rent. It does not include income that cannot be used for distribution, is of a loan or temporary collection nature, such as loan income, advance purchase deposits, state investment, farmer investment, disaster relief, etc. Collective entities such as chicken farms and pig farms run by state institutions in rural areas, such as chicken farms, pig farms, etc. If land ownership remains with the township and village collectives, local farmers participate in productive labor, and their total income should be counted; if Land has been requisitioned and ownership has been transferred. Only the share of income that farmers should receive for labor is counted.

Total rural economic income: refers to agriculture, forestry, which can be used to offset the current year's economic income of the unit (including unified management, contract management, new economic union and farmers' self-employment) and can be distributed among the state, collectives and farmers , Animal husbandry, fishery, transportation, commerce, catering, service and other non-productive income such as interest and taxes, but not including income that cannot be used for distribution, is of a loan or temporary nature, such as loans Income, advance deposit, state investment, farmer investment, etc. Of the total income, the income of rural collective enterprises is calculated based on the total income of various industries, including operating income, product sales income, labor income, and other income, etc .; planting, forestry, animal husbandry, and fishery in household operations are harvested according to the year Calculate income from main and by-products, including main and by-products that have been sold, used for own use, and stored.

Total income should be calculated at current prices, that is, at current prices at the time of economic activity that year. The specific accounting method is: the sale of various main products and by-products is calculated at the actual sale price; agricultural and sideline products for self-use and storage are calculated at the comprehensive average price of all the products (including those sold to the country and sold in the market) . Due to the large differences in market prices across the country, provinces, autonomous regions, and municipalities can uniformly formulate comprehensive regional average prices based on local actual conditions.