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   (Added by Ord. No. 175,385, Eff. 9/14/03, Oper. 1/1/04.)
   (a)   When a person engages in a business that consists of two or more activities taxable on the basis of annual gross receipts and one of the activities generates at least 80% of the person’s annual taxable gross receipts, that person may elect on a yearly basis to have all of its taxable annual gross receipts reported and taxed at the rate applicable to the activity constituting at least 80% of annual taxable receipts.
   Any business activities taxed other than on the basis of annual gross receipts shall not be combined with business activities taxed on the basis of annual gross receipts, and the receipts generated by the activities taxed other than on the basis of annual gross receipts shall continue to be taxed under the existing tax sections and shall be excluded in computing the 80% threshold.
   The provisions of this section shall only apply to gross receipts generated by business activities conducted at or originating from the same location or as otherwise provided for under Section 21.06. All apportionments shall be made prior to electing the single primary tax classification using the appropriate apportionment formulas for each classification.
   (b) Any tax deficiency or delinquency resulting from an election and payment made pursuant to Subsection (a) in which the primary tax category does not meet the 80% threshold shall accrue interest and penalties as set forth in Section 21.05 of this Article.