Definition of less preposition from the Oxford Advanced Learner's Dictionary

 

less

 preposition
preposition
BrE BrE//les//
 
; NAmE NAmE//les//
 
 
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used before a particular amount that must be taken away from the amount just mentioned synonym minus a monthly salary of $2 000 less tax and insurance Send a cheque for the catalogue price, less 10% discount. Word Origin Old English lǣssa, of Germanic origin; related to Old Frisian lēssa, from an Indo-European root shared by Greek loisthos ‘last’.
See the Oxford Advanced American Dictionary entry: less