"Business income" defined
Sec. 20. The term "business income" means income arising from
transactions and activity in the regular course of the taxpayer's trade
or business and includes income from tangible and intangible
property if the acquisition, management, and disposition of the
property constitutes integral parts of the taxpayer's regular trade or
business operations.
(Formerly: Acts 1963(ss), c.32, s.120; Acts 1965, c.233, s.7.)
Last modified: May 28, 2006