(1) On all salaries, wages, commissions, and other compensation earned during the effective period of this chapter by the residents of the City of Campbell.
(2) On all salaries, wages, commissions and other compensation earned during the effective period of this chapter by non-residents for work done and services performed or rendered in the City of Campbell.
(3) A. On a portion attributable to the City of Campbell on the net profits earned during the effective period of this chapter of all resident unincorporated businesses, or other entities, derived from sales made, work done, services performed or rendered and business or other activities conducted in the City.
B. On the portion of the distributive share of the net profits earned during the effective period of this chapter of a resident partner or owner of a resident unincorporated business entity not attributable to the City of Campbell and not levied against such unincorporated business entity.
(4) A. On the portion attributable to the City of Campbell of the net profits earned during the effective period of this chapter of all non-resident unincorporated businesses, professions, or entities derived from sales made, work done, or services performed or rendered and business or other activities conducted in the City, whether or not such unincorporated business entity has an office or place of business in the City.
B. On the portion of the distributable share of the net profits earned during the effective period of this chapter of a resident, partner or owner of a non-resident unincorporated business entity not attributable to the City and not levied against such unincorporated business entity.
(5) A. On the portion attributable to the City of the net profits earned during the effective period of this chapter of all corporations derived from sales made, work done, services performed or rendered and business or other activities conducted in the City of Campbell, whether or not such corporations have an office or place of business in the City of Campbell.
B. The portion of net profits attributable to the City of a taxpayer conducting business, profession or other activity both within and without the boundaries of the City shall be determined as provided in Ohio R.C. 718.02 and in accordance with the rules and regulations adopted by the Finance Director pursuant to this chapter.
(6) All of the above net profits as previously described in subsections (3), (4) and (5) of this section shall be filed on a separate return as provided by the Director of Finance. Said profits shall be considered distinct and separate from those incomes as described in subsection (1) and (2) of the fore- mentioned section.
(c) Operating Loss to Carry Forward.
(1) The portion of the net operating loss sustained in any taxable year subsequent to February 1, 1962, allocable to the City of Campbell may be applied against any portion of the profit of succeeding year(s) allocable to the City, until exhausted, but in no event for more than five taxable years. No portion of net operation loss shall be carried back against net profits of any prior year.
(2) The portion of the net operation loss sustained shall be allocated to the City of Campbell in the same manner as provided herein for allocating net profits to the City of Campbell. The net operating loss shall be in the same manner and provisions as described in Section 191.03(a)(3), (4) and (5) and shall be deducted only from that return not from the return filed under Section 191.03(a)(3), (4) and (5) and shall be deducted only from that return not from the return filed under Section 191.03(a)(1) and (2).
(3) The Director of Finance shall provide rules and regulations; the manner, which such net operating loss carried forward, shall be determined.
(d) Consolidated Returns.
(1) Filing of consolidated returns may be permitted or required in accordance with rules and regulations prescribed by the Director of Finance.
(2) In the case of corporation that carried on transactions with its stockholders or with other corporations related by stock ownership, interlocking directorates, or some other method, or in case any person operates a division, branch, factory, office, laboratory or activity business, the Director of Finance shall require such additional information as he may deem necessary to ascertain whether net profits are not properly allocated to the City of Campbell by reason of transactions with stockholders with such division, branch, factory, office, laboratory or activity or some other method, he shall make such allocations as he deems appropriate to produce a fair and proper allocation of net profits to the City of Campbell.
(Ord. 08-0727. Passed 4-16-08.)
(e) “S” Corporation. The City desires to continue to tax an “S” corporation shareholder’s distributive share of net profits of the “S” corporation to the same extent that is currently permitted by the City municipal income tax ordinance and regulations.
(Ord. 2013-0150. Passed 3-6-13.)