RATE SCHEDULE | ||
Rate Class | Income: $0 - $2,000 Minimum Tax | Income Over $2,000 Rate per thousand or fraction thereof |
RATE SCHEDULE | ||
Rate Class | Income: $0 - $2,000 Minimum Tax | Income Over $2,000 Rate per thousand or fraction thereof |
8.1 | $50 | $1.20 |
8.2 | $ set by state statute | |
8.3 | MASC telecommunications | |
8.4 | $80 | $1.20 |
8.5 | $80 | $1.20 |
8.6 | $80 | $1.50 |
8.6A | $35 | $1.50 |
8.7 | MASC Insurance | |
8.8A | $12.50 + $12.50 per machine | |
8.8B | $50 | $1.25 |
8.8C | $12.50 + $180 per machine | |
8.9 | $75 | $1.50 |
8.10 | $75 + $5 per table | $1.50 |
NON-RESIDENT RATES
Unless otherwise specifically provided, all minimum taxes and rates shall be doubled for nonresidents and itinerants having no fixed principal place of business within the municipality.
DECLINING RATES
Declining Rates apply in all Classes for gross income in excess of $1,000,000, unless otherwise specifically provided for in this chapter.
Gross Income in $ Millions | Percent of Class Rate for each additional $1,000 |
0-1 | 100% |
1-2 | 90% |
2-3 | 80% |
3-4 | 70% |
OVER 4 | 60% |
(Ord. passed 9-25-18)