(A) Subject to the exclusions, adjustments, exemptions, and deductions herein provided, an annual tax of 1% on corporations and resident individuals and of 0.5% on nonresident individuals for general revenue purposes is hereby imposed as an excise on income earned and received through June 30, 1989.
(B) Subject to the exclusions, adjustments, exemptions, and deductions herein provided, an annual tax of 1.5% on corporations and resident individuals and of 0.75% on nonresident individuals for general revenue purposes is hereby imposed as an excise on income earned and received on and afer July 1, 1989.
(Prior Code, § 33.04) (Ord. D-645, passed 3-16-1964, effective 3-26-1964; Ord. D-1582, passed 2-13-1989, effective 7-1-1989)