IC 4-32.3-6-5 : Single activity license; single gambling activity license; festival license; determination of adjusted gross revenue

Sec. 5. (a) This section applies only to the renewal of a single activity license issued under IC 4-32.3-4-6, a single gambling activity license issued under IC 4-32.3-4-11, and a festival license issued under IC 4-32.3-4-7.

(b) A qualified organization's adjusted gross revenue is an amount equal to the difference between:

(1) the qualified organization's total gross revenue from the preceding activity; minus

(2) the sum of any amounts deducted under IC 4-32.3-5-3(b)(5) in the preceding year.

As added by P.L.58-2019, SEC.4.