Such tax shall be levied, collected and paid with respect to salaries, wages, commissions and other compensation and with respect to the net profits of businesses, professions or other activities earned during the period commencing on July 1, 1968, and ending on June 30, 1976, at the rate of 1% per annum and on and after July 1, 1976, at the rate of 1.5% per annum and on and after September 1, 1982, at the rate of 2% per annum.
(Approved by voters 8-3-1982)