172.061 DETERMINING MUNICIPAL TAXABLE INCOME FOR TAXPAYERS WHO ARE NOT INDIVIDUALS.
"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.
(Ord. 2015-40. Passed 11-24-15.)