P.R. Laws tit. 13, § 30105
2019-02-20 00:00:00+00
(a) Definition. — “Net income” means the gross income computed in accordance with § 30101 of this title, minus the following items:
(1) The exemptions provided in § 30102 of this title less the expenses attributable to such exempt income, as provided in § 30140 of this title;
(2) the deductions allowed by § 30104 of this title, subject to the provisions of § 30140 of this title, and
(3) the income subject to preferred tax rates, as described § 30111 of this title, less the expenses attributable to such income, as provided in § 30140 of this title.
History —Jan. 31, 2011, No. 1, § 1031.05, retroactive to Jan. 1, 2011.