92.150. Net profits, how ascertained (St. Louis).
Net profits, how ascertained (St. Louis).
92.150. The net profits or earnings of associations,businesses or other activities, and corporations shall beascertained and determined by deducting the necessary expenses ofoperation from the gross profits or earnings.
(Reenacted L. 1953 2d Ex. Sess. p. 14 § 3)