Net Farm Income: The return (both monetary and non-monetary) to farm operators for their labor, management and capital, after all production expenses have been paid (that is, gross farm income minus production expenses). It includes net income from farm production as well as net income attributed to the rental value of farm dwellings, the value of commodities consumed on the farm, depreciation, and inventory changes.

 

Related Words

Net Farm Income: The return (both monetary and non-monetary) to farm operators for their labor, management and capital, after all production expenses have been paid (that is, gross farm income minus producti . . . View Full Definition

Farm Income: Several measures are used to gauge the earnings of a farming operation over a given period of time: Gross cash income is the sum of all receipts from the sale of crops, livestock, and farm r . . . View Full Definition

Net Cash Income: A farm’s actual cash receipts and expenses in a given year, regardless of the year the goods sold were produced. In general, it serves as an indicator of the short-term financial condition o . . . View Full Definition

Net Operating Income (NOI): The income projected for an income-producing property after deducting losses for vacancy, collection and operating expenses.