All corporations, companies and associations not incorporated under the laws of this state and which are engaged in the city, in effecting or soliciting fire insurance, shall pay to the City Treasurer, on or before July 15 of each and every year, a sum equal to 2% of the net receipts of premiums received by such corporation, company or association, or their agency or agents for business effected or transacted for fire insurance within the city for the year ending July 1, preceding said dates. The sum herein named shall be a tax or license fee upon all such corporations companies or associations transacting such business within the city.
('71 Code, § 4-22-1)