illegal income

illegal income definition - business

illegal income

Income from illegal activities such as operating as a bookie (taking bets) or selling moonshine. Despite being earned from an illegal activity, illegal income is taxable and must be reported.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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