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2007 Laws of Maryland
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Ch. 36
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Annotated Code of Maryland
(2006 Replacement Volume)
BY repealing and reenacting, with amendments,
Article - Family Law
Section 12-201(c) and 12-204(h), (1), and (m)
Annotated Code of Maryland
(2006 Replacement Volume)
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:
Article - Family Law
12-201.
(a) In this subtitle the following words have the meanings indicated.
(b) (1) "Actual income" means income from any source.
(2) For income from self-employment, rent, royalties, proprietorship of
a business, or joint ownership of a partnership or closely held corporation, "actual
income" means gross receipts minus ordinary and necessary expenses required to
produce income.
(3) "Actual income" includes:
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(i)
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salaries;
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(ii)
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wages;
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(iii)
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commissions;
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(iv)
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bonuses;
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(v)
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dividend income;
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(vi)
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pension income;
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(vii)
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interest income;
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(viii) trust income;
(ix) annuity income;
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- 816 -
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