A tax is imposed upon all persons engaged in this municipality in the business of making sales of service at the rate of 1% of the cost price of all tangible personal property transferred by a serviceman either in the form of tangible personal property or in the form of real estate as an incident to a sale or service, in accordance with the provisions of ILCS Ch. 65, Act 5, § 8-11-5.
('69 Code, § 18-24)