gross up

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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  • gross up — To convert a net figure into a gross one for the purpose of tax calculation, etc • • • Main Entry: ↑gross * * * ˌgross ˈup [transitive] [present tense I/you/we/they gross up he/she/it …   Useful english dictionary

  • gross up — phrasal verb [transitive] Word forms gross up : present tense I/you/we/they gross up he/she/it grosses up present participle grossing up past tense grossed up past participle grossed up to increase an amount of money recorded in financial… …   English dictionary

  • Gross Up — A practice usually in reference to an employer reimbursing a worker for the taxes paid on some portion of their income, usually from a one time payment such as relocation expenses. In other words, if an employee is promised $5,000 for relocation… …   Investment dictionary

  • gross up — To convert a net amount into its equivalent gross amount. For example, an amount payable net of 17.5% value added tax would be grossed up to the amount payable including 17.5% value added tax, i.e. by multiplying the net amount by 1.175 …   Accounting dictionary

  • gross up — To add back to the value of the property or income received the amount of the tax that has been paid. For gifts made within three years of death, any gift tax paid on the transfer is added to the gross estate. I.R.C. No. 2035. Process by which… …   Black's law dictionary

  • gross up — To add back to the value of the property or income received the amount of the tax that has been paid. For gifts made within three years of death, any gift tax paid on the transfer is added to the gross estate. I.R.C. No. 2035. Process by which… …   Black's law dictionary

  • Gross up clause — A gross up clause is a provision in a contract which provides that all payments must be made in the full amount, free of any deductions or withholdings, and without exercising any right of set off. The provision will usually indicate that if… …   Wikipedia

  • gross — ► ADJECTIVE 1) unattractively large or bloated. 2) vulgar; unrefined. 3) informal very unpleasant; repulsive. 4) complete; blatant: a gross exaggeration. 5) (of income, profit, or interest) without deduction of tax or other contributions; total.… …   English terms dictionary

  • gross — I UK [ɡrəʊs] / US [ɡroʊs] adjective Word forms gross : adjective gross comparative grosser superlative grossest ** 1) a gross amount of money is the total amount before taxes or costs have been taken out a company with gross revenues of… …   English dictionary

  • gross — adj., v., & n. adj. 1 overfed, bloated; repulsively fat. 2 (of a person, manners, or morals) noticeably coarse, unrefined, or indecent. 3 flagrant; conspicuously wrong (gross negligence). 4 total; without deductions; not net (gross tonnage; gross …   Useful english dictionary

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