A. Tax Imposed: A tax is hereby imposed upon all persons engaged in the business of renting or leasing tangible personal property to the users thereof at the rate of one-half of one percent (1/2%) of the gross receipts from such renting or leasing made in the course of such business while this section is in effect, in accordance with the provisions of 65 Illinois Compiled Statutes 5/8-10-6 of the Illinois Municipal Code.
B. Tax Returns: Every person engaged in the business of renting or leasing tangible personal property in the City shall file with the State Department of Revenue the return in the manner as required by law.
C. Payment Of Tax: At the time the return is filed, there shall be paid to the State Department of Revenue the amount of tax hereby imposed on account of the receipts from renting or leasing tangible personal property during the preceding month. (Ord. O-23-79, 11-20-1979; amd. 1992 Code)