An annual tax for the purpose specified in Section 183.0101 shall be imposed on or after March 1, 1985 at a rate of two percent (2%) per year upon the following:
(a) On all taxable income received by residents of the City.
(b) On all taxable income received by non-residents of the City for work done or services performed or rendered in the City.
(c) (1) On the portion attributable to the City on net profits earned on or after March 1, 1985, of all resident unincorporated business entities or professions or other activities derived from sales made, work done, services performed or rendered and business or other activities conducted in the City.
(2) On the portion of the distributive share of net profits earned on or after March 1, 1985, of a resident partner or owner of a resident unincorporated business entity not attributable to the City and not levied against such unincorporated business entity.
(d) (1) On the portion attributable to the City of the net profits earned on or after March 1, 1985, of all nonresident unincorporated business entities, professions or other activities derived from sales made, work done, services performed or rendered and business and other activities conducted in the City, whether or not such unincorporated business entity has an office or place of business in the City.
(2) On the portion of the distributive share of the net profits earned on or after March 1, 1985, of a resident partner or owner of a nonresident unincorporated business entity not attributable to the City and not levied against such unincorporated business entity.
(e) On the portion attributable to the City of the net profits earned on or after March 1, 1985, of all corporations derived from sales made, work done, services performed or rendered and business or other activities conducted in the City whether or not such corporations have an office or place of business in the City.
(f) A business loss cannot be used by a taxpayer to offset other income taxes which may be owing to the City as a result of their employment. A business loss cannot be used to offset other income such as rental income, nor shall a rental loss be used to offset a business profit unless the taxpayer is considered in the business of rental properties.
(g) On all income, reported to the Internal Revenue Service, which is derived anywhere from gaming, wagering, lotteries, or schemes of chance by residents of the City or by nonresidents of the City when the income is derived from gaming, wagering, lotteries, or schemes of chance is won or received from sources or tickets purchased from sources located within the City.
(Ord. 2014-034. Passed 5-27-14.)