In addition to the authority contained in Sections 47-a and 47-b the City Council shall enact an ordinance levying an income tax of one-half (1/2) of one percent (1%), to provide funds for the general municipal operations, City employee compensation, street lighting and capital improvements, notwithstanding any provision in Section 47-a prohibiting an income tax.
The net proceeds of the income tax will be set aside and used for the following:
30% City Employee Compensation 30% General Municipal Operation 30% Capital Improvements 10% Street Lighting |
Said income tax shall be levied on the net profits of all businesses, professions or other activities conducted by residents of the City of Portsmouth, on the net profits on all businesses, professions or other activities conducted in the City of Portsmouth by non-residents; on the net profits of all corporations as a result of work done or services performed or rendered in the City of Portsmouth; on all salaries, wages, commissions, and other personal service compensation earned by residents of the City of Portsmouth, on all salaries, wages, commissions and other personal service compensation earned by non-residents of the City of Portsmouth for work done or services performed or rendered in the City of Portsmouth.
The Department of Finance under the City Auditor's supervision shall administer and collect the income tax under rules and regulations adopted by a policy committee consisting of the City Solicitor, City Auditor and City Manager.
This section shall take effect and be in force as of the date of the certification to the Secretary of State by the Board of Elections.
(Adopted 5-5-70; Amended 11-8-11.)