There is hereby levied and assessed an annual tax of 2% upon the gross receipts from residential and commercial sales of electricity in the town, which tax shall be in lieu of any other franchise, license, occupation or excise tax levied by such town, all as provided by state law.
(Prior Code, § 7-401)
Statutory reference:
Utility tax authorized for municipalities, see 68 O.S. §§ 2601 et seq.