The tax imposed by this subchapter shall be levied, collected, and paid with respect to all income and net profits, subject to the tax, earned during the period terminating December 31, 2009, at the rate of 1.5% per annum. The tax imposed by this subchapter shall be levied, collected, and paid with respect to all income and net profits, subject to the tax, earned during the period commencing January 1, 2010, and thereafter shall be levied at the rate of 2% per annum. All prior years shall be subject to the tax imposed on all income and net profits by the regulations then in effect. All penalties and enforcement regulations shall also remain in effect for prior years.
(Ord. 1-05, passed 1-24-05; Am. Ord. 84-09, passed 12-14-09; Am. Ord. 58-12, passed 12-17-12)