Gross income is commonly efined as the amount of a company's or a person's income before all deductions or any taxpayer’s income, except that which is specifically excluded by the Internal Revenue Code, before taking deductions or taxes into account. For a business, this amount is pre-tax net sales less cost of sales. Section 61 of the Internal Revenue Code (Code) defines "gross income" as "all income from whatever source derived." Section 61(a) of the Code lists fifteen examples of items included in gross income; however, the list is not exhaustive. Therefore, unless the Code specifies that something is excluded from gross income, the assumption is that it is included. Exceptions to what is included in gross income can be found under §§ 101-140 of the Code. Each of these sections excludes a particular type of inflow if it meets the criteria stated.