1. The purpose of this Chapter is to provide funds for the purpose of general municipal operations, maintenance, new equipment, extension and enlargement of municipal services and facilities, and capital improvements of the Village.
2. There is hereby levied a tax on qualifying municipal taxable income, to wit - salaries, wages, commissions and other compensation as defined in this Chapter, on net profits, and on all other taxable income, as hereinafter provided, at the rate of .75 percent per annum.
(Ord. 1165-2020. Passed 8-11-20.)