(A) There shall be an exemption in every case of $25 in amount of tax computed under the provisions of this subchapter. 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 of $25 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 or she exercises one or more privileges taxable hereunder.
(B) The provisions of this subchapter shall not apply to:
(1) Insurance companies which pay to the state a tax upon premiums; provided, that such exemption shall not extend to that part of a 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 or offices in this city, whether such income be in the form of rentals or royalties;
(2) Nonprofit cemetery companies organized and operated for the exclusive benefit of their members;
(3) Fraternal societies, organizations and associations organized and operated for the exclusive benefit of their members and not for profit; provided, that this 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 under the provisions of W. Va. Code Article 60-7;
(4) Corporations, associations and societies organized and operated exclusively for religious or charitable purposes;
(5) Production credit association, organized under the provisions of the Federal Farm Credit Act of 1933, being Pub. Law No. 73- 75; and
(6) Any credit union organized under the provisions of W. Va. Code Chapter 31 or any other chapter; provided, that the exemptions of this section shall not apply to corporations or cooperative associations organized under the provisions of W. Va. Code Article 19-4.
(Prior Code, § 711.15) (Ord. 85-3, passed 4-16-1985)