Upon every person engaging or continuing within this City in the business of contracting, including both subcontractor and general contractor, the tax shall be equal to one and two tenths percent of the gross income of the business derived from contracts entered into prior to the first day of July, 1971, and by two percent of the gross income of the business derived from contracts entered into on or after the first day of July, 1971. Any person contracting with a nonresident contractor subject to the taxes imposed by this article shall withhold payment, in the final settlement of such contract, of such sufficient amount as will be sufficient to cover such taxes, until the receipt of a certificate from the Director of Finance to the effect that the taxes imposed against the nonresident contractor have been paid or provided for. It shall be the duty of the contractor to notify the owner that such monies are to be withheld from the final settlement of the contract. The owner, however, shall be ultimately liable for such amount should the contractor fail to pay such tax as required under this article.
(Ord. 95-17. Passed 6-15-95.)