An annual tax for the purposes specified in Sections 173.0101 and 173.0102 shall be imposed on and after January 1, 2014, at the rate of two percent (2%) per annum until December 31, 2021, on which date the tax rate shall revert back to one and three-quarters percent (1.75%) upon the following: (Ord. 13-21. Passed 5-20-13.)
(a) On all salaries, wages, commissions and other compensation earned on or after July l, 1989, by residents of the City;
(b) On all salaries, wages, commissions and other compensation earned on or after July l, 1989, by nonresidents of the City for work done or services performed or rendered within the City;
(c) (1) On the portion attributable to the City on the net profits earned on and after July l, 1989, 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 the net profits earned on and after July l, 1989, 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 by the City;
(d) (1) On the portion attributable to the City of the net profits earned on or after July l, 1989, 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 July l, 1989, 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 by the City;
(e) On the portion attributable to the City of the net profits earned on or after July l, 1989, 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) On the portion attributable to the City pursuant to the terms of this chapter and including:
(1) "Royalty income" means income earned by a taxpayer from a royalty interest in the production of an oil or gas well whether managed, extracted or operated by the taxpayer individually or through an agent or other representative, shall be included in the computation of net profits from a business activity to the extent that such royalty interest constitutes a business activity of the taxpayer.
Where the gross income received by a taxpayer from a royalty interest in the production of an oil or gas well in a taxable year exceeds three thousand dollars ($3,000), it shall be prima facie evidence that the income was derived from a business activity of such taxpayer and the net income from such royalty interest shall be subject to tax.
(2) The employer's income derived from finance and carrying charges associated with their consumer's accounts receivable.
(Ord. 04-54. Passed 3-21-05.)