Except as otherwise specifically provided in this code, there is hereby levied on all vocations, occupations and businesses declared by the general laws of the state to be privileges taxable by municipalities, an annual privilege tax in the a maximum amount allowed by state laws. The taxes provided for in the state's Business Tax Act are hereby expressly enacted, ordained and levied on the businesses, business activities, vocations and occupations carried on within the city at the rates and in the manner prescribed by that Act. The proceeds of the privilege taxes herein levied shall accrue to the General Fund of the city.
(1989 Code, § 5-401)