Pretax Income
"The amount earned from a business or investment before deducting income taxes.
Example: Pretax income of $50,000 was earned from a Mini-Warehouse operation, according to its accountant. Income taxes of $15,000 reduced the After-Tax Income to $35,000."
PRETAX INCOME
"With regard to banks, this term refers to the amount remaining after operating expenses are deducted from income, including gains or losses on security transactions. For industrial companies, it includes operating and non-operating revenues (including extraordinary items not net of taxes), less all operating and non-operating expenses, except income taxes and minority interest, but including equity in non-consolidated subsidiaries. For insurance companies, it is total operating income before income taxes and security gains or losses, generally including any equity in income of subsidiaries."
Bob
