(A) No tax shall be levied under this chapter with respect to any admissions, all the proceeds of which inure:
(1) Exclusively to the benefit of religious, educational, or charitable institutions, societies, or organizations, societies or organizations for the prevention of cruelty to children or animals, or societies or organizations conducted for the sole purpose of maintaining symphony orchestras, and receiving substantial support from voluntary contributions, if no part of the net earnings thereof inures to the benefit of any private stockholders or individual;
(2) Exclusively to the benefit of persons in the military or naval forces of the United States, or of national guard organizations, reserve officers associations or organizations, if the posts, organizations, units, or societies are organized in the State of Ohio, and if no part of their net earnings inure to the benefit of any private stockholder or individual;
(3) Exclusively to the benefit of persons who have served in the military or naval forces of the United States and are in need; and/or
(4) Exclusively to the benefit of members of the police or fire department of any Hamilton County municipal corporation, or the dependents or heirs of the members.
(B) The exemption from tax provided by this section shall not be allowed in case of admissions to wrestling matches, prize fights, or boxing, sparring, or other pugilistic matches or exhibitions; nor in the case of admissions to any athletic game or exhibition the proceeds of which inure wholly or partly to the benefit of any high school, academy, preparatory, or other school, wherein the admission price is $.76 or more, or wholly or partly to the benefit of any college or university.