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Net cash income is a measure of the cash income after payment of business expenses that is available to pay debt obligations and family living expenses . The amount of per diem payments made under a contract issued on or before July 31 , 1996 , with respect to an insured which are excludable from gross income by reason of section 7702B of the Internal Revenue Code of 1986 ( as added by this section ) shall not be reduced under subsection ( d ) ( 2 ) ( B ) thereof by reason of reimbursements received under a contract issued on or before such date . In addition , the final regulations provide that for purposes of section 2056A ( b ) ( 3 ) ( A ) , " income " does not include ( in addition to the exclusion for capital gains ) items constituting income in respect of a decedent under section 691 , regardless of the characterization thereof under local law , except to the extent provided in administrative guidance published by the Service . The IRS added this exclusion because it is believed that local law may inappropriately characterize certain items of IRD ( income in respect of a decedent ) as income , contrary to the purposes of section 2056A , and it was determined that exceptions to this rule of exclusion should be made on a case by case basis . Nevertheless , the disaster assistance proposed by the Senate appropriations committee comes as U.S. agriculture posted its second highest net farm income in history in 2005 and taxpayers provided a record $ 23 billion in subsidies . The regulations under section 691 say income in respect of the decedent generally refers to amounts a decedent was entitled to as gross income but that were not properly includible in computing his or her taxable income for the year ending with the date of death or for a previous taxable year under the method of accounting the decedent employed . Companies deriving taxable income from mining for natural oil are subject to normal tax at the rate of 30 % on taxable income arising form oil mining , plus additional normal tax amounting to 40 % of the amount remaining after the deduction of normal tax from taxable income .