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English definition of “residual income”

residual income

noun [C or U]     FINANCE, ACCOUNTING
income that a person , company , or organization has left after they have paid taxes , debts , etc.: Pension payments reduce residual income for tax purposes .
(also residuals [plural]) money that a writer or musician earns in royalty payments (= payments received for each book , etc. that is sold ): Musicians also receive residual income called royalties that are earned each time someone buys a CD. He made a lot of money in residuals for his album last year .
(Definition of residual income noun from the Cambridge Business English Dictionary © Cambridge University Press)
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