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Municipal – Business License Fee – ‘Gross Income’ – House Flipper – IRC Definition (access required)

The respondent-city’s business license fee ordinance required “gross income” to “conform to the gross income reported to the State Tax Commission or the State Insurance Commission” and allowed gross income to be verified via returns filed with the Internal Revenue Service. The applicable definition of “gross income” for “Gains derived from dealings in property,” I.R.C. ...

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