For the purpose of this subchapter, the following definitions shall apply unless the context clearly indicates or requires a different meaning.
BUSINESS ENTITY. Each separate corporation, limited liability company, business development corporation, partnership, limited partnership, registered limited liability partnership, sole proprietorship, association, joint stock company, receivership, trust, professional service organization, or other legal entity through which business is conducted. BUSINESS ENTITY shall not include funds, foundations, corporations, or associations organized and operated for the exclusive and sole purpose of religious or charitable purposes.
CITY. The City of Cadiz, Kentucky.
COMPENSATION. Wages, salaries, commissions, or any other form of remuneration paid or payable by an employer for services performed by an employee, which are required to be reported for federal income tax purposes and adjusted as follows:
(1) Include any amounts contributed by an employee to any retirement, profit sharing, or deferred compensation plan, which are deferred for federal income tax purposes under a salary reduction agreement or similar arrangement, including, but not limited to, salary reduction arrangements under §§ 401(a), 401(k), 402(e), 403(a), 403(b), 408, 414(h), or 458 of the Internal Revenue Code; and
(2) Include any amounts contributed by an employee to any welfare benefit, fringe benefit, or other benefit plan made by salary reduction or other payment method which permits employees to elect to reduce federal taxable compensation under the Internal Revenue Code, including, but not limited to, §§ 125 and 132 of the Internal Revenue Code.
EMPLOYEE. Any person who renders services to another person or business entity for compensation, including an officer of a corporation and any officer, employee, or elected official of the United States, a state, or any political subdivision of a state, or any agency or instrumentality of any one or more of the above. A person classified as an independent contractor under the Internal Revenue Code shall not be considered an EMPLOYEE.
EMPLOYER. The person or entity for which an individual performs or performed any service, of whatever nature, as the employee of such person or entity.
GROSS RECEIPTS. All revenues or proceeds derived from the sale, lease, or rental of goods, services, or property by a business entity reduced by the following:
(1) Sales and excise taxes paid; and
(2) Returns and allowances.
SALES REVENUE. Receipts from the sale, lease, or rental of goods, services, or property.
TAXABLE GROSS RECEIPTS.
(1) In case of a business entity having payroll or sales revenues both within and without the city means gross receipts as defined above, as apportioned under § 110.02.
(2) In case of a business entity having payroll or sales revenue only in the city means gross receipts as defined above.
TAXABLE YEAR. The calendar year upon the basis of which gross receipts is computed.
(Ord. 08-01, passed 7-1-08)