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LSDefine

Simple English definitions for legal terms

AOGI

Read a random definition: net premium

A quick definition of AOGI:

Income is the money you earn from working, owning a business, investing, or receiving gifts. Adjusted ordinary gross income (AOGI) is a specific type of income that takes into account certain expenses and capital gains. Other types of income include gross income (total income before deductions), net income (total income minus deductions), and unearned income (income from investments rather than labor). Taxable income is the amount of income that is subject to taxes, and there are various types of income that may be exempt from taxation.

A more thorough explanation:

Definition: AOGI stands for adjusted ordinary gross income. It refers to a corporation's gross income minus capital gains and certain expenses. The IRS uses this calculation to determine whether a corporation is a personal holding company. If 60% or more of a corporation's AOGI consists of certain passive investment income, the company has met the test for personal-holding-company classification.

Example: Let's say a corporation has a gross income of $1,000,000. After deducting capital gains and certain expenses, the AOGI is calculated to be $800,000. If more than 60% of this AOGI comes from passive investment income, the corporation will be classified as a personal holding company.

Explanation: This definition explains what AOGI means and how it is calculated. The example illustrates how a corporation's AOGI is calculated and how it can affect the company's classification. This definition is written in simple language that a high school student can understand.

AOD | AOUSC

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7:55
@WorthlessAttractiveZombie: mine did yesterday morning
7:56
Oops sorry I meant Vilanova. Mine disappeared last week
soapy
8:48
UMN under review! As predicted, decisions are gonna come out early December
Minus those random R decisions from UMN yesterday though right? I wonder what happened there. I don’t think I’ve seen a school start the season out with anything but As on here
almost all of my apps have been UR for 6 weeks at this point I feel exhausted waiting for them to finish
Irvine is being snobby and wont start any review until end of Nov.
Yeah, it’s tough. I’m distracting myself by playing good video games after work :)
im distracting myself by schizo-scrolling r/lawschoolamissions and every conceivable data point on this godforsaken website
it is not working
Haaa I naturally want to do that too. I’m trying to stop. They need a surgeon general’s warning on this site for perspective law students
i spend more time on here then anything else trying to rationalize that the waves from last year will match waves for this year (they won't) and that the stats of people with the same stats are indicative of my own (they aren't)
There aren't many people in my stat range so I pretty much know every result in my range after being on here for a few years
9:28
congrats on the 172 bruce
go dawgs fr
9:29
roll tide
do we foresee a fordham election day wave today (i'm delusional)
WorthlessAttractiveZombie
9:31
I think so, Jack
9:31
some people hate him. some people love him, but he a real one: https://youtu.be/w5oEqiVQcF4?t=173
9:32
[kevin oleary]
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
WorthlessAttractiveZombie
9:34
I mean if Fordham doesn't release today I will purposefully get on a train, go to new york, and then take the stinkiest shit inside the admission office's toilet (potentially clogging it and forcing them to get a plumber)
IS IT ONLY ON MY END WHY DID THAT SEND TEN MILLION TIMES
HELLO
WorthlessAttractiveZombie
9:35
it sent a million times lol
WHAT HAPPENED
yeah i thought you were tweaking for a second
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