"Municipal Taxable Income" for a taxpayer who is not an individual for the Municipality is calculated as follows:
(A) "Income" reduced by "Exempt Income" to the extent otherwise included in income, multiplied by apportionment, further reduced by any "Pre-2017 Net Operating Loss Carryforward" equals "Municipal Taxable Income".
(1) "Income" for a taxpayer that is not an individual means the "Net Profit" of the taxpayer.
(4) "Pre-2017 Net Operating Loss Carryforward" is defined in Section 183.03 (32) of this Chapter.
(Ord. 2015-31. Passed 11-23-15.)
(Ord. 2015-31. Passed 11-23-15.)