181.09 ON WHAT EARNINGS OR NET PROFITS TAX FIRST LEVIED.

   (a)    The tax referred to in Sections 181.03 and 181.04 shall first be levied, collected and paid with respect to the qualifying wages, salaries, bonuses, incentive payments, commissions, fees and/or other compensation earned, as defined in this chapter.

   (b)   The tax referred to in Sections 181.05, 181.06 and 181.07 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 the regular accounting system of the taxpayer as approved by the Director of the Internal Revenue Service).  See Section 181.10 for fiscal year returns.

(Ord. 2004-07.  Passed 9-29-04.)