As used in this chapter, the following words shall have the meaning ascribed to them in this section, except as and to the extent the context thereof clearly indicates or requires a different meaning. The singular shall include the plural and the masculine shall include the feminine and the neuter.
(a) “ADJUSTED FEDERAL TAXABLE INCOME.” A “C” corporation’s federal taxable income before net operating losses and special deductions as determined under the Internal Revenue Code, but including subsequent adjustments from required additions and deductions. Pass-through entities must compute “Adjusted Federal Taxable Income” as if the pass-through entity was a “C” corporation. This definition does not apply to any taxpayer required to file a return under Ohio Revised Code (ORC) Section 5745.03 or to the net profit from a sole proprietorship. This definition is effective for tax years beginning on or after January 1, 2004.
(b) “ASSOCIATION.” A partnership, limited partnership, or any other form of unincorporated enterprise or collection of persons or entities owned, operated or controlled by one (1) or more persons. Limited Liability Companies (LLC) are taxed as an association and must file and pay tax under the regulations as such.
(c) “BUSINESS.” An enterprise, activity, profession or undertaking of any nature conducted for profit or ordinarily conducted for profit, whether by an individual, partnership, limited partnership, corporation, association, joint venture or other entity or arrangement.
(d) “CORPORATION.” A corporation or joint stock association organized under the laws of the United States, the State of Ohio, or any other state, territory, foreign country of dependency. Corporation shall include sub-chapter S corporations as defined in the federal tax code, 26 U.S.C. 1361.
(e) “DOMICILE.” The permanent legal residence of a taxpayer. A taxpayer may have more than one residence but not more than one domicile.
(f) “EMPLOYEE.” An individual who works for wages, salary, commissions, or other type of compensation or other income in the service and under the control of an employer.
(g) “EMPLOYER.” An individual, partnership, limited partnership, association, corporation, government body, unit or agency, or any other entity, whether or not organized for profit, who or that employs one (1) or more persons on a salary, wage, commission or other compensation or other income basis.
(h) “FEDERAL SHORT-TERM RATE.” The rate of the average market yield on outstanding marketable obligations of the United States with remaining periods of maturity of three (3) years or less, as determined under Section 1274 of the “Internal Revenue Code of 1966”, 100 Stat. 2085, 26 USC 1274, for July of the current year.
(i) “GROSS RECEIPTS.” The revenue derived from sales, work done, or services rendered before any deductions, exceptions or credits are claimed.
(j) “INCOME.” Shall include all monies derived from any source whatsoever, including but not limited to:
(1) All salaries, wages, commissions, other compensation and other income from whatever source received by residents of the City of Circleville.
(2) All salaries, wages, commissions, other compensation and other income from whatsoever source received by nonresidents for work done or services performed or rendered or activities conducted in the City of Circleville.
(3) The portion attributable to the city of the net profits of all unincorporated businesses, associations, professions, corporations, or other entities, from sales made, work done, services performed or rendered, and business or other activities conducted in the City of Circleville.
(k) NET PROFITS.” For taxable years prior to 2004, the net gain from the operation of a business, profession, or enterprise or other activity (whether or not such business, profession, enterprise or other activity is conducted for profit or is ordinarily conducted for profit) after provision for all ordinary and necessary expenses either paid or accrued in accordance with the accounting system (i.e., either cash or accrual) used by the taxpayer for Federal Income Tax purposes without deduction of taxes imposed by this chapter, Federal, State and other taxes based on income; and in the case of an association, without deduction of salaries paid to partners, and other owners; and without deduction for dividends paid or disbursed to share holders of incorporated business entities; and without deduction for charitable contributions; and without deductions for expenses attributable to non-taxable income; and otherwise adjusted to the requirements of this chapter.
Net profits shall include any amount or value received, realized, or recognized in a sale or other disposition of tangible personal property or real property used in business, in excess of book value. (For taxable years 2004 and later, see “adjusted federal taxable income”).
(l) “NON-RESIDENT.” An individual, domiciled outside the City of Circleville.
(m) “NON-RESIDENT UNINCORPORATED BUSINESS ENTITY.” An unincorporated business entity not having an office or place of business within the City of Circleville.
(n) “OTHER ENTITY.” The term “other entity” means any person, unincorporated body, venture or combination of individuals or entities not previously named or defined and includes, but is not limited to, fiduciaries, located within the City of Circleville, Ohio.
(o) “PERSON.” Every natural person, partnership, LLC, limited partnership, corporation, fiduciary or association. Whenever used in any clause prescribing and imposing a penalty, the term “person” as applied to any association or venture shall mean the partners or members thereof, and as applied to corporations, the officers thereof and any individual properly classified as a “responsible party” as has been interpreted by the Internal Revenue Service.
(p) “QUALIFYING WAGE.” Wages as defined in Section 3121(a) of the Internal Revenue Code, without regard to any wage limitations, but including subsequent adjustments from required additions and deductions. “Qualifying wage” represents employees’ income from which municipal tax shall be deducted by the employer, and any wages not considered a part of “qualifying wage” shall not be taxed by the Municipality. This definition is effective January 1, 2004.
(q) “RESIDENT.” An individual domiciled in the City.
(r) “RESIDENT UNINCORPORATED BUSINESS ENTITY.” An unincorporated business entity having an office or place of business within the City.
(s) “TAXABLE INCOME.” Income, minus the deductions and including the credits allowed by this chapter. (See “Income” definition.)
(t) “TAXABLE YEAR.” The calendar year, or the fiscal year upon the basis of which the net profits are to be computed under this chapter and, in case of a return for fractional part of a year, the period for which such return is required to be made.
(u) “TAXPAYER.” A person, whether an individual, partnership, limited partnership, corporation, association or other entity, required hereunder to file a return or to pay a tax hereunder. (Ord. 01-02-2004. Passed 1-6-04.)