The net profits or earnings of associations, businesses or other activities, and corporations shall be ascertained and determined by deducting the necessary expenses of operation from the gross profits or earnings.
Mo. Rev. Stat. § 92.150
Net profits, how ascertained
Known as the Municipal Telecommunications Business License Tax Simplification Act
The act spans §§ 92–92 (102 sections).
Effective: 28 Aug 1953; (Reenacted L. 1953 2d Ex
Official source: Missouri Revisor of Statutes. Reproduced from public-domain Missouri statutes; confirm against the official source for the current text. Not legal advice.