US Laws, Codes, Statutes & Cases

 
    §  11-628  Gross  income  defined. 1. The term "gross income" includes
  gains, profit and income derived from the business, of whatever kind and
  in whatever form paid, including gains, profits or income from  dealings
  in  property,  whether  real  or  personal, or gains, profits, or income
  received as compensation for services, as interest, rents,  commissions,
  brokerage  or  other  fees,  or  otherwise in carrying on such business,
  including all dividends received on stocks  and  all  interest  received
  from federal, state, municipal or other bonds.
    2. If the gross income of such an association is derived from business
  carried  on  both within and without the city, "gross income" means that
  proportion thereof which is derived from business carried on within  the
  city, to be allocated and determined on the basis of separate accounting
  for  each  office  or  branch or, at the election of the taxpayer, under
  rules and regulations prescribed by the commissioner of finance.