To provide for the purposes of general municipal operations, capital improvement, street and other physical properties, purchase of new equipment and the payment of principal and interest on bonds issued by the City, there is hereby levied a tax at the rate of two and one-half percent (2.5%) per annum on and after July 1, 2010, upon the following:
(Ord. 2010-25. Passed 12-6-10.)
(a) On all qualifying wages, commissions, other compensation, and other taxable income earned or received on or after July 1, 1983, by residents of the City.
(b) On all qualifying wages, commissions, other compensation, and other taxable income earned or received on or after July 1, 1983, by nonresidents of the City for work done or services performed or rendered in the City.
(c) On the net profits earned or received on or after July 1, 1983, of all unincorporated businesses, professions, or other activities conducted by residents of the City.
(d) On net profits earned or received on or after July 1, 1983, of all unincorporated businesses, professions, or other activities conducted in the City by nonresidents.
(e) For the purposes of subsection (c) and (d) of this section, an association or pass- through entity, except for an S corporation, shall not be taxable as an entity, but any member or owner thereof who is a resident of the City shall be taxed individually on the resident's entire share, whether distributed or not, of the annual net profits of the association or pass-through entity, and any nonresident members or owners thereof shall be taxed individually only on that portion of the nonresident's share, whether distributed or not, of the annual net profits of the association as is derived from work done, services performed or rendered, and businesses or other activities conducted in the City.
(f) On the net profits earned or received on or after July 1, 1983, of all corporations, estates, trusts and limited partnerships, derived from work done or services performed or rendered and business or other activities conducted in the City, whether or not such corporations, estates, trusts and limited partnerships have their principal or any place of business located in the City.
(g) On all income received as gambling winnings as reported on IRS Form W-2G, Form 5754 and or any other form required by the Internal Revenue Service that reports winnings from gambling, prizes and lottery winnings.
(Ord. 05-38. Passed 10-3-05.)