There is hereby levied and assessed an annual tax of 2% upon the gross receipts from residential and commercial sales of gas or electricity in the city. Such tax shall apply to all persons, firms, associations or corporations engaged in the business of furnishing gas or electricity within the city limits, except that it shall not apply to any person, firm, association, or corporation operating under a valid franchise from the city.
(Prior Code, § 7-401)
Statutory reference:
Authority of council to levy above tax, see 68 O.S. § 2601
Tax not applicable to franchise holders, see 68 O.S. § 2602