Sec. 3. (a) All net proceeds from an allowable activity and related activities may be used for any lawful purpose of the qualified organization. (b) To determine the net proceeds from an allowable activity, a qualified organization shall subtract the following from the gross receipts received from the allowable activity: (1) An amount equal to the total value of the prizes awarded at the allowable activity. (2) The sum of the purchase prices paid for licensed supplies dispensed at the allowable activity. (3) An amount equal to the qualified organization's license fees attributable to the allowable activity. (4) An amount equal to the advertising expenses incurred by the qualified organization to promote the allowable activity. (5) An amount not to exceed two hundred dollars ($200) per day for rent paid for facilities leased for an allowable activity.
‹ Prev All Indiana sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.