FAASTA.E State Assistance Authorization (STAA) : 07 State Assistance Budgeting Income - Overview : E State Assistance Budgeting Income - Annualizing Income
State Assistance Budgeting Income - Annualizing Income
Annualizing income (earned and unearned) is a method used to determine a monthly amount of income that is received or anticipated to be received over a 12 month period.
 
NOTE The income may be received in 12 months or a period of time of less than 12 months. (See Prorating Income)
 
Divide the gross annual income by 12.
 
EXCEPTION
For self employment, see budgeting self employment.