(A) New businesses.
(1) Any taxpayer who conducts a new business in the city or is annexed into the city that is subject to the tax imposed by this subchapter shall be allowed a credit against the assessed business and occupation tax in accord with the “new business” portion of the table.
(2) The administration of §§ 110.42 through 110.46 of this chapter is vested in, and shall be exercised by the City Manager, who, in connection therewith, shall prescribe all necessary forms. The City Manager may prescribe all necessary rules and regulations that are in conformity with §§ 110.42 through 110.46 of this chapter for making returns and for the ascertainment, assessment and collection of all taxes imposed hereunder. The City Manager shall also prescribe such regulations as are necessary to verify the taxpayers continued entitlement to claim such credit, and verify proper good faith application of credit allowed.
(Prior Code, § 745.32)
(B) Expanding businesses.
(1) Any taxpayer who has an existing business within the corporate limits of the city that is subject to the tax imposed by this subchapter shall be allowed a credit against the incremental receipts assessed business and occupation tax in accord with the “expanding business” portion of the table, assuming that the taxpayer has met the criterion of § 110.42 of this chapter.
(2) Expanding businesses receive the tax credit on the incremental receipts while continuing to pay the full assessment of business and occupational tax on the base year receipts over the three year tax credit period.
(Prior Code, § 745.34) (Ord. passed 3-18-2000)