For the purpose of this subchapter, the following definitions shall apply unless the context clearly indicates or requires a different meaning.
BANKING BUSINESS or FINANCIAL ORGANIZATION. Any bank, banking association, trust company, industrial loan company, small loan company or licensee, building and loan association, savings and loan association, financial company, investment company, investment broker or dealer and any other similar business organization at least 90% of the assets of which consists of intangible personal property and at least 90% of the gross receipts of which consists of dividends, interest and other charges derived from the use of money or credit.
BUSINESS. Includes all activities engaged in or caused to be engaged in with the object of gain or economic benefit, either direct or indirect. BUSINESS shall not include a casual sale by a person who is not engaged in the business of selling the type of property involved in such casual sale. BUSINESS shall include the production of natural resources or manufactured products which are used or consumed by the producer or manufacturer and shall include the activities of a banking business or financial organization.
COLLECTOR. The City Treasurer or his or her authorized agent.
CONTRACTING. Includes the furnishing of work, or both materials and work, in the fulfillment of a contract for the construction, alteration, repair, decoration or improvement of a new existing building or structure, or any part thereof, or for the alteration, improvement or development of real property.
GROSS INCOME. The gross receipts of the taxpayer received as compensation for personal services and the gross receipts of the taxpayer derived from trade, business, commerce or sales, and the value proceeding or accruing from the sale of tangible property value proceeding or accruing from the sale of tangible property (real or personal), or service, or both, and all receipts by reason of the investment of the capital of the business engaged in, including interest, discount, rentals, royalties, fees or other emoluments however denominated and without any deductions on account of cost of property sold, costs of material used, labor costs, taxes, royalties, interest or discount paid or any other expense whatsoever. GROSS INCOME of a banking or financial business is specified in § 110.24 of this chapter.
GROSS PROCEEDS OF SALE. The value, whether in money or other property, actually proceeding from the sale of tangible property, without any deduction on account of the cost of property sold or expenses of any kind. The terms GROSS INCOME and GROSS PROCEEDS OF SALES shall not be construed to include cash discounts allowed and taken on sales; the proceeds of sale of goods, wares or merchandise returned by customers when the sale price is refunded, either in cash or by credit; the amount allowed as “trade-in-value” for any article accepted as part payment for any article sold; excise taxes imposed by the state; or money or other property received or held by a professional person for the sole use and benefit of a client or another person or money received by the taxpayer on behalf of a bank or other financial institution for the repayment of a debt of another.
SALE, SALES or SELLING. Includes any transfer of the ownership of or title to property, whether for money or in exchange for other property.
SELLING AT WHOLESALE or WHOLESALE SALES. Sales of any tangible personal property for the purpose of resale in the form of tangible personal property; sales of machinery and supplies or materials which are to be directly consumed or used by the purchaser in the conduct of any business or activity which is subject to the tax imposed by this subchapter; sales of any tangible personal property to the United States of America, its agencies and instrumentalities or the state, its institutions or political subdivisions.
SERVICE BUSINESS OR CALLING. Includes all activities engaged in or other persons for a consideration, which involve the rendering of a service as distinguished from the production or sale of tangible property, but shall not include the services rendered by an employee to his or her employer.
TAX YEAR or TAXABLE YEAR. The year beginning July 1 of each calendar year and ending June 30 of each succeeding calendar year.
TAXPAYER. Any person liable for any tax hereunder.
(Prior Code, § 745.015) (Ord. passed 9-10-1990)