(a) In the case of a nonresident business, partnership, association, fiduciary or other entity engaged in the conduct, operation or prosecution of any trade, business, profession, enterprise, undertaking, or other activity, there is imposed an annual tax of one percent (1%) of the net profits (earned or accruing on and after June 1, 1978) of such trade, and to the extent conducted in or derived from activity in the Municipality.
(b) A nonresident entity within the meaning of Section 181.03 which has a branch or branches, office or offices and/or store or stores, warehouse or other place or places in which the entity's business is transacted, located in the Municipality, shall be considered to be conducting, operating, prosecuting or carrying on a trade, business, profession, enterprise, undertaking or other activity to the full extent of the sum total of all transactions originating or consummated in, by or through the Municipal branch office, store, warehouse or other place of business, including:
(1) Billings made on such transactions; or
(2) Services rendered; or
(3) Shipments made; or
(4) Goods, chattels, merchandise, etc., sold; or
(5) Commissions, fees or other remuneration or payments earned.
(c) In the case of the partnership, association, pass-through entity or other unincorporated enterprise owned by one or more persons, the tax, generally, shall be upon such partnership, association, or business enterprise as an entity and not upon the partners or members thereof. However, the provisions of Section 183.06 are applicable to render taxable against such resident partners or members their distributive share of any profits of such nonresident entity not taxable under this chapter.
(d) In determining the proportion or amount of the taxable net profits of a nonresident business entity having a place or places of business within and outside the Municipality, such business entity must use and apply the business allocation percentage formula set forth in Section 181.03(b). For explanation of formula, see Section 183.09.
(e) Net operating losses from previous years shall not be carried forward to the present taxable year.
(Ord. 2003-79. Passed 12-2-03.)
(Ord. 2003-79. Passed 12-2-03.)