(A) Tax levied. Except as otherwise specifically provided in this code, there is hereby levied on all vocations, occupations and businesses declared by the general laws of the state to be privileges taxable by municipalities, an annual privilege tax in the maximum amount allowed by state laws. The taxes provided for in the state’s Business Tax Act (Tenn. Code Ann. §§ 67-4-701 et seq.) are hereby expressly enacted, ordained and levied on the businesses, business activities, vocations and occupations carried on within the city at the rates and in the manner prescribed by the said Act. The proceeds of the privilege taxes herein levied shall accrue to the General Fund.
(1994 Code, § 5-201)
(B) License required. No person shall exercise any such privilege within the city without a currently effective privilege license, which shall be issued by the Finance Director to each applicant therefor upon the applicant’s payment of the appropriate privilege tax.
(1994 Code, § 5-202) Penalty, see § 10.99