Skip to code content (skip section selection)
(A) Corporations, partnerships and other associations receiving income from the rental of real property shall be deemed to be in the business of renting said property, and income derived therefrom is subject to the occupational license tax measured by net profits.
(B) Every business entity, including individuals or fiduciaries acting on behalf of individuals or deceased individuals, engaged in the rental of real property, including but not limited to, improvements such as warehouses, apartment buildings containing four or more units, hotel buildings, office buildings, restaurants and other commercial structures shall be deemed with respect to such rentals to be engaged in an “activity” which requires a license tax to be paid and a return filed regardless of the amount of gross receipts received therefrom.
(C) Individuals and fiduciaries acting on behalf of individuals or deceased individuals who receive income from the rental of real property (other than rent from commercial structures under subsection (B)) located in Louisville Metro shall be deemed to be engaged in an “activity” which requires a license tax to be paid and a return to be filed, unless the annual gross receipts received from the rental of such real property in Louisville Metro is less than $50,000.
(Lou. Metro Ord. No. 110-2008, approved 6-30-2008)