(a) In the case of a corporation doing business in Bucyrus, whether domestic or foreign, whether in production, sales, service, or any facet of corporate business, and whether domiciled in Bucyrus or elsewhere, there is imposed an annual tax of one (1) percent, plus any additional tax of limited duration imposed by any prior ordinance or resolution for whatever time period is stated in that ordinance or resolution, on net profits earned or accruing on or after January 1, 2004 of such corporation as a result of work done or service performed or rendered, and business activities conducted in the City of Bucyrus.
(b) The Provisions of Section 187.06(b) are applicable to such corporations.
(c) A corporation doing business both within and outside the City of Bucyrus shall determine the Bucyrus net profits using the Business Apportionment Percentage Formula explained in Section 187.08. (Res. 240-2003. Passed 12-30-03.)