(A) The following annual tax is hereby imposed for township purposes:
(1) One-third of 1% from January 1, 1968 to July 1, 1968, and 0.5% thereafter, on the earned income of residents of the township;
(2) One-third of 1% from January 1, 1968 to July 1, 1968, and 0.5% thereafter, on the earned income of nonresidents for work done or services rendered in the township;
(3) One-third of 1% from January 1, 1968 to July 1, 1968, and 0.5% thereafter, on the net profits of residents of the township; and
(4) One-third of 1% from January 1, 1968 to July 1, 1968, and 0.5% thereafter, on the net profits of nonresidents of the township.
(B) The applicability of the tax to earned income and to net profits shall be separately calculated; net losses in any business or profession are not deductible from earned income.
(C) The taxes levied under divisions (A)(1) and (A)(2) above shall relate to and be imposed upon compensation paid by an employer or on his or her behalf to any person who is employed or renders services to him or her. The taxes levied under divisions (A)(3) and (A)(4) above shall relate to and be imposed upon the net profits or any business, profession or enterprise carried on by any person or owner or proprietor, either individually or an association with some other person or persons.
(D) Such taxes shall be levied with respect to the compensation or net profits earned during the calender year for which the tax is levied; provided, however, that where the fiscal year of business, profession or other activity differs from the calendar year, the tax shall be applicable to the net profits of the fiscal year.
(Ord. 266, passed 11-6-1964; Ord. 307, passed 5-6-1966; Ord. 313, passed 2-17-1967; Ord. 326, passed 3-1-1968)