A franchise tax is hereby levied and imposed for the period(s) designated in § 35.19 upon the electric power companies engaged in the business of furnishing electricity, electric lights, current or power within the corporate limits of the town. The tax shall be 3.09% of the companies’ taxable gross receipts from the business of furnishing electricity, electric lights, current or power. It is intended that taxable gross receipts hereunder shall be the same as those taxable under the State Franchise Tax Act.
(Ord. eff. 6-10-2002)