(a) Definitions.
(1) When used in this article, the term “Company” shall include any partnership, joint adventure, joint stock company, corporation, association or person.
(2) The phrase “motor vehicle carrier” shall mean any person, firm or corporation engaged in the transportation of passengers or property, or both, for compensation by motor propelled vehicles for the operation of which a permit or certificate of convenience and necessity is required by law.
(3) The term “ton-mile” shall be a unit of transportation meaning the transportation of one net ton in weight a distance of one mile.
(4) The term “Passenger mile” shall mean the transportation of one passenger a distance of one mile.
(5) The term “barrel-mile” means the transportation of the equivalent of a barrel of oil a distance of one mile.
(6) The term “Wire -mile” means the equivalent of a single metallic telephone or telegraph conductor one mile in length.
(b) Every motor vehicle carrier operating on the public highways of this town and every express corporation or company, pipe line company, telephone and telegraph company doing business within this town shall pay to the town an annual license tax for the privilege of doing business within this town, which tax shall be equal to two-tenths of one percent (2/10 of 1%) of the gross income of all such businesses. No exemption as provided for in Section 751.03 shall be applicable to the tax to be paid under this section. But such exemptions under Section 751.03 shall apply to the taxes due and payable under subsections (b)(1) to (4) hereof. In addition to the tax imposed by this section every motor vehicle carrier operating on the public highways of this town and every express corporation pipe line company and telephone and telegraph company doing business within this town shall pay to the town an additional license tax for the privilege of doing business in this town to be determined as follows:
(1) The tax as to motor vehicle carriers and express corporation or company shall be equal to one percent (1%) of the net income earned within this town, such income to be determined by ascertaining a sum bearing the proportion to the total net income from passenger and freight traffic that the business done in this town, measured in passenger-miles as to passenger traffic and in ton-miles as to freight traffic bears to all business done, measured in like fashion.
(2) The tax as to pipe line corporations shall be one percent (1%) of the net income earned within this town, such income to be determined by ascertaining a sum bearing the proportion to the total net income of the corporation that its business done in this town, measured in barrel-miles, bears to all business done, measured in like fashion.
(3) The tax as to telephone and telegraph companies shall be one percent (1%), of the net income earned within this town, such income to be determined by ascertaining a sum bearing the proportion to the total net income of the corporation that its business done in this town, measured in wire-miles, bears to all business done, measures in like fashion.
(4) In computing the tax imposed by this section the total net income of a taxpayer, who shall have been taxed under the preceding section, shall be reduced by the amount bearing the proportion of such total net income that the gross proceeds or income of the taxpayer, which is the measure of the tax under the preceding section, bears to its total gross income from all business done wherever conducted. This section shall not apply to a taxpayer taxed under the preceding section and engaged exclusively in business within this town.
(c) There shall be an annual exemption in every case of two dollars ($2.00) or a semi-annual exemption of one dollar ($1.00) in the amount of tax computed under the provisions of this article. A person exercising a privilege taxable hereunder for a fractional part of a tax year of less than six months shall be entitled to an exemption of one dollar ($1.00) and if such privilege is exercised for more than six months but less than one year to a two dollar ($2.00) exemption. Only one exemption shall be allowed any one person whether he exercises one or more privileges taxable hereunder.
(Passed 10-23-56.)