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.
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