There shall be an exemption in every case of fifty dollars in the amount of tax computed under the provisions of this article. A person exercising a privilege taxable hereunder for a fractional part of a tax year shall be entitled to an exemption of the sum bearing the proportion to fifty dollars that the period of time the privilege is exercised bears to a whole year. Only one exemption shall be allowed to any one person, whether he exercises one or more privileges taxable hereunder.
The provisions of this article shall not apply to:
(a) Insurance companies which pay the State a tax upon premiums; provided, that such exemption shall not extend to that part of the gross income of insurance companies which is received for the use of real property, other than property in which any such company maintains its office in the City, whether such income is in the form of rentals or royalties.
(b) Nonprofit cemetery companies organized and operated for the exclusive benefit of their members.
(c) Fraternal societies, organizations and associations organized and operated for the exclusive benefit of their members and not for profit; provided, that such exemption shall not extend to that part of the gross income arising from the sale of alcoholic liquor, food and related services of such fraternal societies, organizations and associations which are licensed as private clubs.
(d) Corporations, associations and societies organizes and operated exclusively for religious or charitable purposes.
(e) Production credit associations organized under the provisions of the federal “Farm Credit Act of 1933.”
(f) Any credit union organized under the provisions of the Code of West Virginia; provided, that the exemptions of this subsection shall not apply to corporations or cooperative associations organized under the provisions of article 4 of chapter nineteen of the Code of West Virginia.
(g) Gross income derived from advertising service rendered in the business of radio and television broadcasting.
(h) Any demonstration, pilot or research project for the gasification or liquefaction of coal when the same is totally or partially funded by public money; provided, that this exemption shall not apply to any gross income after June 30, 1981.
(Ord. 203. Passed 5-17-76.)