(A) To provide funds for the purpose of emergency services, debt reduction (loans, notes and/or bonds) and capital improvements, for parks and recreation and for use by the General Fund as deemed necessary by Council for the village.
(B) For the purposes specified in § 1 of Ord. 1239-00, on and after January 1, 2014, an annual tax of 1% per annum shall be imposed upon the hereinafter-specified income. Such income tax shall be imposed upon the following income:
(1) All salaries, wages, commissions and other compensation, and other income earned on and after January 1, 2014, by residents of the village;
(2) All salaries, wages, commissions and other compensation and other for work done or services performed or rendered or activities conducted within the village;
(3) (a) The portion attributable to the village on the net profits earned on and after January 1, 2014, of all resident associations or professions or other activities, derived from sales made, work done or other services performed or rendered and business or other activities conducted in the village; and
(b) The portion of the distributive share of the net profits earned on or after January 1, 2014, of all nonresident associations, professions or other activities, derived from sales made, work done, services performed or rendered and business and other activities conducted in the village, whether or not such association, profession or activity has an office or place of business in the village.
(4) (a) On the portion attributable to the village of the net profits earned on or after January 1, 2014, of all nonresident associations, professions or other activities, derived from sales made, work done, services performed or rendered and business and other activities conducted in the village, whether or not such association, profession, or activity has an office or place of business in the village; and
(b) On the portion of the distributive share of the net profits earned on or before January 1, 2014, of a resident partner or owner of a nonresident association not attributable to the village and not levied against such association.
(5) On the portion attributable to the village, of the net profits earned on and after January 1, 2014, of all corporations derived from sales made, work done, services performed or rendered and business or other activities conducted in the village, whether or not such corporations have an office or place of business in the village; and
(6) The tax shall be levied, collected and paid with respect to the salaries, wages, commissions and other compensation and other income earned or received, and with respect to the net profits of business, professions or other activities earned on or after January 1, 2014.
(Ord. 1507-15, passed 11-2-2015)