(a) Net profit from a business or profession conducted within the boundaries of the Village of North Kingsville shall be considered as having a taxable situs in the Village of North Kingsville for purposes of income taxation in the same proportion as the average ratio of:
(1) The average original cost of the real and tangible personal property owned or used by the taxpayer in the business or profession in the Village of North Kingsville during the taxable period, to the average original cost of all of the real and tangible personal property owned or used by the taxpayer in the business of profession during the same period, wherever situated. As used in this paragraph, “real property” includes property rented or leased by the taxpayer. The value for such property shall be determined by multiplying the annual rental thereon by eight.
(2) Wages, salaries and other compensation paid during the taxable period to persons employed in the business or profession for services performed in the Village of North Kingsville, to wages, salaries and other compensation paid during the same period to persons employed in the business or profession, wherever their services are performed. Wages, salaries, and other compensation shall be included to the extent that they represent qualifying wages.
(3) The gross receipts of the business or profession during the same period from sales and services wherever made or performed.
In the event that the foregoing apportionment formula does not produce an equitable result, another basis may, under uniform regulations, be substituted so as to produce such result.
(b) As used in this section, "sales made in the Village of North Kingsville” means:
(1) All sales of tangible personal property which is delivered within the Village of North Kingsville, regardless of where title passes, if shipped or delivered from a stock of goods within the Village of North Kingsville;
(2) All sales of tangible personal property which is delivered within the Village of North Kingsville, regardless of where title passes, even though transported from a point outside the Village of North Kingsville, if the taxpayer is regularly engaged through its own employees in the solicitation or promotion of sales within the Village of North Kingsville and the sales result from such solicitation or promotion; and
(3) All sales of tangible personal property which is shipped from a place within the Village of North Kingsville to purchasers outside the Village of North Kingsville, regardless of where title passes, if the taxpayer is not, through its own employees, regularly engaged in the solicitation or promotion of sales at the place where delivery is made.
(Ord. O-04-038. Passed 7-6-04.)