(A) To provide funds for the purposes of general municipal operation, maintenance, new equipment, extensions and enlargement of municipal services and facilities, capital improvements of the city, community learning centers, and paying debt charges on securities issued and public obligations occurred to pay costs related to the above-mentioned purposes, there is levied a tax on salaries, wages, commissions and other compensation, and on other net profits as provided in this chapter.
(B) For the purposes specified in this section, an annual tax shall be imposed on and after January 1, 2016 at the rate of 2% per annum.
(Prior Code, § 880B.012) (Ord. 2015-15, passed 11-10-2015)