§ 28. Gross income defined. 1. The term "gross income" includes gains,
profit 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 such an association 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.