{"iri":"https://lexicon.financial/business/bea/CorporateProfitsWithIVAAndCCAdj","label":"Corporate profits with IVA and CCAdj","definition":"This measure–profits from current production–is the income that arises from current production, measured before income taxes, of organizations treated as corporations in the national income and product accounts (NIPAS) . With several differences, this income is measured as receipts less expenses as defined in Federal tax law. Among these differences are: Receipts exclude capital gains and dividends received; expenses exclude bad debt, depletion, and capital losses; inventory withdrawals are valued at current cost; and depreciation is on a consistent accounting basis and valued at current replacement cost.","license":"https://www.usa.gov/government-copyright","source":"bea","source_url":"https://www.bea.gov/help/glossary/corporate-profits-iva-and-ccadj"}