Except as otherwise herein provided as to certain licenses, the license year shall begin May 1 of each year and shall terminate at midnight on April 30 of the following year. Original licenses shall be issued for the balance of the license year at the full license fee, except that after November 1, the fee for any license shall be one-half (1/2) the full amount, if the full fee is ten dollars ($10.00) or more.  License applications for license renewals shall be accepted and licenses issued for a period of fifteen days prior to the annual expiration date.  In all cases where the provisions of this Business Regulation Code permit the issuance of licenses for periods of less than one year, the effective date of such licenses shall commence with the date of issuance thereof. 
(1975 Code § 7.5)