(A) Except as provided in division (B), every person or business entity engaged in any business for profit and any person or business entity that is required to make a filing with the Internal Revenue Service or the Kentucky Revenue Cabinet shall be required to file and pay to the city an occupational license tax for the privilege of engaging in such activities within the city. The occupational license tax shall be measured by:
(1) One and one-half percent (1.5%) of all wages and compensation paid or payable in the city for work done or services performed or rendered in the city by every resident and nonresident who is an employee; and
(2) One percent (1%) of the net profit from business conducted in the city by a resident or nonresident business entity.
(3) In lieu of the annual license fee imposed by this chapter, a taxpayer may elect to pay a flat license fee of seven thousand five hundred dollars ($7,500) which shall be due and payable when the tax imposed by this chapter is due and payable.
(B) The occupational license tax imposes in this section shall not apply to the following persons or business entities:
(1) Any bank, trust company, combined bank and trust company, or trust, banking and title insurance company organized and doing business in this state, any savings and loan association whether state or federally chartered;
(2) Any compensation received by members of the Kentucky National Guard for active duty training, unit training assemblies and annual field training;
(C) Any compensation received by precinct workers for election training or work at election booths in state, county, and local primary, regular, or special elections;
(D) Public Service Corporations that pay an ad valorem tax on property valued and assessed by the Kentucky Department of Revenue pursuant to the provisions of KRS 136.120. Licensees whose businesses are predominately non-public service who are also engaged in public service activity are required to pay a license fee on their net profit derived from the non-public service activities apportioned to the city;
(E) Persons or business entities that have been issues a license under KRS Chapter 243 to engage in manufacturing or trafficking in alcoholic beverages. Persons engaged in the business of manufacturing or trafficking in alcoholic beverages are required to file a return, but may exclude the portion of their net profits derived from the manufacturing and trafficking of alcoholic beverages.
(F) Life insurance companies incorporated under the laws of and doing business in the Commonwealth of Kentucky.
(G) Every person conducting a business as defined in this chapter shall first obtain a license from the City Clerk/Treasurer before the commencement of that business, the fee for which shall be seventy-five dollars ($75.00), except as provided in § 60.020. The fee shall be credited upon the payment of the annual license fee at the time of the annual filing, as provided elsewhere in this chapter. Provided, however, that where such person has a current license from the city for the conduct of such business, issued prior to January 1, 1987, the provisions of this section shall not apply. Provided, further, that notwithstanding the amount of profit per license period, all businesses shall pay an annual minimum license fee of seventy-five dollars ($75.00), except as provided in § 60.021.
(H) Every person or trust, etc. that collects income from the rental or leasing of more than three (3) units of residential property shall first annually obtain a license from the City Clerk/Treasurer before the commencement of that business, the fee for which shall be seventy-five dollars ($75.00) plus ten dollars ($10.00) per dwelling unit owned located within the city limits.
(I) Every person, trust, etc. that collects income from the rental or leasing of commercial property shall first annually obtain a license from the City Clerk/Treasurer before the commencement of that business, the fee for which shall be seventy-five dollars ($75.00) plus twenty dollars ($20.00) per suite, or space located within the city limits.
(Ord. 2008-06-05(B), passed 6-5-08; Am. Ord. 2010-04-15, passed 4-15-10)