(a) In the case of trades, businesses, professions, other activities or undertakings conducted, operated, engaged in, prosecuted, or carried on by residents of the City of Bucyrus, there is imposed an annual tax of one (1) percent plus any additional tax of limited duration imposed on income, whether by the Ordinance or Resolution, already in effect on profits earned or accruing on or after January 1, 2004.
(b) For the purpose of construing subsection (c) and (d) of Section 185.02, the term, "residents" in the phrase "conducted by residents of the City of Bucyrus", will ordinarily be construed to have reference to the business entity itself, as distinguished from the partners, proprietors or other participants in its profits.
(c) Generally, a partnership, association or other unincorporated enterprise owned by two or more persons will be taxed as an entity. However, in the case of a non-resident partnership, association or unincorporated enterprise which cannot be reached or taxed directly by the City of Bucyrus, or if only part of its earnings may be directly taxed, then in either such case, resident partners, co-owners, proprietors or other participants in the profits thereof must include in their declaration and tax return or returns their distributive shares of such profits, or portion thereof not taxed to the business enterprise as an entity, and must pay the tax thereon. If such earnings were taxable by another municipality in this State, credit for taxes paid to said municipality will be granted. The amount of the credit shall equal the lesser of the following amounts, subject to Section 185.04.
(1) The amount, if any, of tax paid by the partnership, association or other unincorporated enterprise to another municipality in this state, apportioned ratably according to the ownership interest of the taxpayer in proportion to the ownership interest of all owners of the entity.
(2) The amount of tax that would be imposed on the partnership, association or other unincorporated enterprise by the City if the said entity conducted business in Bucyrus, apportioned ratably according to the interest of the taxpayer in proportion to the ownership interest of all owners of the entity.
(d) The tax imposed under Section 185.02(c) of the Ordinance is levied upon the entire net profits of the resident trade, business, profession, other activity, enterprise, or undertaking, wherever earned, paid or accrued and regardless of the fact that any part of such business or professional activity may have been conducted at or through a place or places of business located outside the City of Bucyrus. Credit will be given for city income taxes paid to other municipalities as prescribed under Section 185.04 of the Ordinance.
(Res. 240-2003. Passed 12-30-03.)