There shall be an exemption in every case of $150.00 annually 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 year shall be entitled to an exemption of $12.50 per month or 42 cents per day for the period actually engaged in business. 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 of West Virginia a tax upon premiums; provided, however, that said 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 this City, whether such income be in the form of rentals or royalties;
(b) Non-profit cemetery companies organized and operated for the exclusive benefit of their members;
(c) Societies, organizations and associations organized and operated for the exclusive benefit of their members and not for profit;
(d) Corporations, associations and societies organized and operated exclusively for religious or charitable purposes;
Provided, however, that the exemptions of this section shall not apply to corporations or cooperative associations organized under the provisions of West Virginia Code, Chapter 19, Article IV, as amended.