Common use of Individual – Income Test Clause in Contracts

Individual – Income Test. An individual who had income in excess of $200,000 in each of the two most recent years (or had joint income with his or her spouse in excess of $300,000 in each of those years) and has a reasonable expectation of reaching the same income level in the current year.

Individual – Income Test. An individual who had an income in excess of $200,000 in each of the two most recent years (or had joint income with his or her spouse in excess of $300,000 in each of those years) and has a reasonable expectation of reaching the same income level in the current year.;