This section applies to an annual activity license under IC 4-32.3-4-5 and an annual gambling activity license under IC 4-32.3-4-11 . A qualified organization's adjusted gross revenue is an amount equal to the difference between:

1. (1) the qualified organization's total gross revenue from allowable activities in the preceding year; minus
2. (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.