(a) The purpose of the tax is to provide funds for general municipal functions of the City. There shall be and is hereby levied a tax on all wages, salaries, commissions, other compensation including fees, sick pay, bonuses, tips, rents, profits from businesses (as defined in Section 891.03) including professional association and partnerships, royalties, employer supplemental unemployment benefits (subpay), wage continuation plans, contests, prizes and awards, all gaming, schemes of chance, wagering, lotteries, including the Ohio lottery winnings subject to Section 891.03(c)(14)D., dismissed or severance pay, incentive payment property in lieu of cash, depreciation recapture and other compensation earned, received and accrued.
(b) Said tax shall be levied, collected and paid with respect to definitions in Section 891.03 and income subject to tax pursuant to Sections 891.041 through 891.043, Sections 891.051 through 891.053, and Sections 891.061 through 891.065 for tax years beginning on or after January 1, 2016 at a rate of two and one-half percent.
(Ord. 2015-66. Passed 12-2-15.)