operating profit

Total sales revenue less all operating expenses, no adjustment being made for any nonoperating income and expenses, such as interest payments. [Cases: Internal Revenue 3175; Taxation 980, 996. C.J.S. Internal Revenue §§ 107–108, 110, 112; Taxation §§ 1715–1716, 1732–1733.]

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词条贡献者

译者Susanne，世界顶尖法学院国际税法专业，擅长翻译各种与联邦税务纠纷相关的法律文件。