(a) Imposition. For the purposes specified in Section 171.01 on and after January 1, 1998, an annual tax of one percent (1%) per annum shall be imposed upon the hereinafter specified income. Such income tax shall be imposed upon the following income:
(Ord. 97-60. Passed 11-17-97.)
(1) All salaries, wages, commissions, and other compensation including executors’, administrators’, and guardians’ fees, lottery winnings, income of a pass-through entity in the hands of the owner of the entity, and nontransferable employee stock options intended as wages, and other income earned on and after January 1, 1998 by residents of the Municipality. (Ord. 02-32. Passed 8-5-02.)
(2) All salaries, wages, commissions and other compensation and other income earned on and after January 1, 1998, by nonresidents of the Municipality for work done or services performed or rendered within the Municipality or work performed outside of the Municipality but directed or controlled from within this Municipality.
(3) A. The portion attributable to the Municipality on the net profits earned on and after January 1, 1998, of all resident unincorporated business entities or professions or other activities, derived from sales made, work done or other services performed or rendered and business or other activities conducted in the Municipality.
B. The portion of the distributive share of the net profits earned on or after January 1, 1998, of all nonresident unincorporated business entities, professions, or other activities, derived from sales made, work done, services performed or rendered and business and other activities conducted in the Municipality whether or not such unincorporated business entity has an office or place of business in the Municipality.
(4) A. On the portion attributable to the Municipality of the net profits earned on or after January 1, 1998, of all nonresident unincorporated business entities, professions or other activities, derived from sales made, work done, services performed or rendered and business and other activities conducted in the Municipality whether or not such unincorporated business entity has an office or place of business in the Municipality.
(Ord. 97-60. Passed 11-17-97.)
B. On the portion of the distributive share of the net profits earned on or after January 1, 1998, of a resident owner of a nonresident pass- through entity not attributable to the Municipality and not levied against such pass-through entity. (Ord. 02-55. Passed 11-18-02.)
(5) On the portion attributable to the Municipality of the net profits earned on and after January 1, 1998, of all corporations derived from sales made, work done, services performed or rendered and business or other activities conducted in the Municipality, whether or not such corporations have an office or place of business in the Municipality.
(Ord. 97-60. Passed 11-17-97.)
(6) On all classes of pass-through entities doing business in this Village, as defined in Section 171.02(27) the tax is imposed upon the net income of the pass-through entity at the level of the entity.
(Ord. 02-55. Passed 11-18-02.)
(b) Effective Date. The tax shall be levied, collected and paid with respect to the salaries, wages, commissions and other compensation, and with respect to the net profits of business, professions or other activities earned on or after January 1, 1998.
(Ord. 97-60. Passed 11-17-97.)