The tax or taxes referred to in Sections 187.03 and 187.04 shall first be levied, collected, and paid with respect to the qualifying wages, commissions, other compensation and other taxable income earned or accruing on and after January 1, 2004. The tax or taxes remains in effect until legislative change but in no way affects any prior ordinance, resolution, or tax legislation of limited duration in effect prior to January 1, 2004.
The tax or taxes referred to in Sections 187.05 to 187.07 with respect to net profits of trades, businesses, professions, enterprises, undertakings, and other activities shall first be levied, collected, and paid with respect to such net profits earned or accrued (in accordance with regular accounting system as approved by Director of Internal Revenue) from and after January 1, 2004. The tax remains in effect until legislative change but in no way affects any prior ordinance, resolution, or tax legislation of limited duration.
(Res. 240-2003. Passed 12-30-03.)