182.21 RENTAL INCOME.
   (A)   Rental income received by an taxpayer shall be included in the computation of net profits from business activities under Section 182.03 , only if and to the extent that the rental, ownership, management or operations of the real estate from which such rentals are derived, whether so rented, managed or operated by a taxpayer individually or through agents or other representatives constitutes a business activity of the taxpayer in whole or in part as defined in Section 182.21 (B).
   (B)   Where the gross monthly rental of any and all real properties, regardless of number and value aggregates in excess of two hundred fifty dollars ($250.00) per month, it shall be prima-facie evidence that the rental, ownership, management or operation of such properties, is a business activity of such taxpayer and the net income of such rental property shall be subject to tax. However, in the case of commercial property, the owner shall be considered engaged in a business activity when the rental is based on a fixed or fluctuating percentage of gross or net sales, receipts or profits of the Lessee, whether or not such rental exceeds two hundred fifty dollars ($250.00) per month. It is further provided that the person who rents three or more rooms to different persons in property shall be considered to be engaged in a business activity, whether or not the gross rental income exceeds two hundred fifty dollars ($250.00) per month; and provided further that in the case of farm property, the owner shall be considered engaged in a business activity when he shares in crops or when the rental is based on a percentage of the gross or net receipts derived from the farm, whether or not the gross rental income exceeds two hundred fifty dollars ($250.00) per month.
(Ord. 2015-79. Passed 12-15-15.)