Personal net worth definition

Personal net worth means the aggregate adjusted net value

Personal net worth means the net value of the assets of an individual remaining

Personal net worth means: the net value of the assets of an individual remaining after total liabilities are deducted. An individual’s personal net worth does not include: The individual’s ownership interest in an applicant or participating DBE firm; or the individual’s equity in his or her primary place of residence. An individual’s personal net worth includes only his or her own share of assets held jointly or as community property with the individual’s spouse.

Examples of Personal net worth in a sentence

• Pursuant to 49 CFR 26.67, the MRCC will require each individual owner of a firm applying to participate as a DBE and whose ownership interest is relied upon for DBE certification to submit a signed, notarized Statement of Personal Net Worth with appropriate supporting documentation that each presumptively disadvantaged owner is, in fact, economically disadvantaged.

• If an individual’s Statement of Personal Net Worth shows the individual's personal net worth to exceed $1.32 million, the individual's presumption of economic disadvantage will be rebutted.

• Personal Net Worth is determined as per 13 CFR 124.104(2) and 124.105(c)(2).

• The relevant financial condition for eligibility under the Program is set at fifty percent of the Federal Small Business Administration (SBA) small business size standards using the North American Industry Classification System and Owners’ Personal Net Worth less than $750,000 dollars.

• Tax or Vendor ID Company Name: Address: City, State, Zip: Phone #: Fax #: Email Address: To qualify for EPA DBE Status all of the following must apply: √ Certifying Eligibility Criteria: Indicate Certifying Entity : Texas Certified Historically Underutilized Business (HUB) Texas Comptroller of Public Accounts (CPA-TPASS) *Personal Net Worth less than $750,000 for each individual claiming disadvantage status (Excludes equity of primary residence and individual’s ownership interest in company).

More Definitions of Personal net worth

Personal net worth means the socially and eco- nomically disadvantaged individual's net personal assets and liabilities, excluding an individual's ownership interest in the applicant firm and the individual's equity in his or her pri- mary residence. If the statement of personal net worth that an individual submits shows that the individual's personal net worth exceeds seven hundred fifty thousand dollars, the indi- vidual's economic disadvantage is rebutted.

Personal net worth means the net value of the assets of an individual after total liabilities are deducted. An individual’s personal net worth does not include the individual’s ownership interest in an applicant or other certified MBE or WBE or the individual’s equity in his or her primary place of residence. As to assets held jointly with his or her spouse, an individual’s personal net worth includes only that individual’s share of such assets. An individual’s net worth also includes the present value of the individual’s interest in any vested pension plans, Individual Retirement Accounts, 401(K) accounts or other retirement savings or investment programs less the tax and interest penalties that would be imposed if the asset were distributed at the present time.

Personal net worth means value of total assets less the value of total liabilities. It includes all your assets as well as those of your spouse or common-law partner and must be in either or both of your names. You must have a verifiable personal net worth of at least CAD $600,000 of which CAD $300,000 must be liquid and unencumbered. Your personal net worth must be legally obtained and must be verified by a third-party professional designated by the Department. You must disclose your full net worth; Inheritances, donations and gifts received less than six months before an application is received by the Department will not be considered eligible towards your net worth.

Personal net worth means the net value of the assets of an individual remaining after total liabilities are deducted. An individual's personal net worth does not include: The individual's ownership interest in an applicant or participating DBE firm; or the individual's equity in his or her primary place of residence. An individual's personal net worth includes only his or her own share of assets held jointly or as community property with the individual's spouse.

Personal net worth means the aggregate adjusted net value of the assets of an individual remaining after total liabilities are deducted. Personal net worth includes the individual's share of assets held jointly with said individual's spouse and does not include the individual's ownership interest in the certified minority and women-owned business enterprise, the individual's equity in his or her primary residence, or up to five hundred thousand dollars of the present cash value of any qualified retirement savings plan or individual retirement account held by the individual less any penalties for early withdrawal.

Personal net worth means the net value of the assets of an individual after total liabilities are deducted. An individual's personal net worth does not include the individual's ownership interest in an applicant or other Certified MBE or WBE, provided that the other Person is certified by a governmental agency that meets the County's eligibility criteria or the individual's equity in his or her primary place or residence. As to assets held jointly with a spouse, an individual's Personal Net Worth includes only that individual's share of such assets. An individual's Personal Net Worth also includes the present value of the individual's interest in any vested pension plans, individual retirement accounts, or other retirement savings or investment programs less the tax and interest penalties that would be imposed if the asset were distributed at the present time.

Personal net worth means the net value of the assets of an individual after total liabilities are deducted. An individual's personal net worth does not include the individual's ownership interest in an applicant business enterprise or participating MWBE/SBE /EBE or the individual's equity, if any, in his or her primary place of residence. An individual's personal net worth includes only his or her share of assets held individually and jointly with the individual's spouse. For the purposes of certification as an MWBE/SBE/EBE under Article III and its divisions or Article VII, an individual must have a personal net worth equal to or less than the permissible personal net worth amount determined by the U.S. Department of Transportation to be applicable to its DBE programs or as otherwise promulgated by the director by rule and regulation.