### Question
How is the term industrial and commercial profits defined?


### Answer
The term **industrial and commercial profits** is defined in *26 CFR § 509.104* as the following:

> profits arising from industrial, commercial, mercantile, manufacturing, and like activities of an enterprise, including mining, financial and insurance profits

#### Citation:
  - *26 CFR § 509.104*
  - Heading: **PART 509—SWITZERLAND**

