§ 20. Gross income defined. 1. The term "gross income" includes gains,
profits and income derived from the business, of whatever kind and in
whatever form paid, including gains, profits or income from dealings in
property, whether real or personal, or gains, profits or income received
as compensation for services, as interest, rents, commissions, brokerage
or other fees, or otherwise in carrying on such business, including all
dividends received on stocks and all interest received from federal,
state, municipal or other bonds.

2. If the gross income of a taxpayer is derived from business carried
on both within and without the city, "gross income" means that
proportion thereof which is derived from business carried on within the
city, to be allocated and determined on the basis of separate accounting
for each office or branch or, at the election of the taxpayer, under
rules and regulations prescribed by the director of finance.

3. "Gross income" of a savings bank shall include the amount received
by it in any taxable year as a distribution in liquidation of the mutual
savings bank fund.