(a) There is hereby imposed as a city retail occupational sales and service tax upon the privilege of engaging in business, in addition to the tax imposed by § 37.001, a tax measured by 1%of the gross receipts of all persons engaged in business within the jurisdiction of the city and county, who are subject to the state retail occupational sales and service tax, SDCL ch. 10-45, and acts amendatory thereto.
(b) Any revenues received under division (a) above shall be deposited to the city treasury in a fund designated for the capital improvements as outlined within § 36.034 and defined as capital by the city’s accounting manual, debt retirement and furniture, fixtures and equipment (“FF&E”) on new construction and transfer to a nongovernmental fund to provide funding for the same.
(1992 Code, § 39-16.1) (Ord. 103-83, passed 12-12-1983; Ord. 132-84, passed 10-22-1984; Ord. 90-85, passed 10-28-1985; Ord. 78-87, passed 9-14-1987; Ord. 46-88, passed 6-20-1988; Ord. 46-89, passed 5-22-1989; Ord. 99-91, passed 12-23-1991; Ord. 101-96, passed 9-3-1996; Ord. 70-03, passed 8-4-2003; Ord. 14-04, passed 2-9-2004; Ord. 82-05, passed 8-5-2005; Ord. 152-06, passed 11-20-2006; Ord. 116-08, passed 9-15-2008)
Editor’s note:
It should be noted that notwithstanding any provision of Ord. 14-04 to the contrary, the second penny sales use tax of .92% established pursuant to Ord. 70-03 and codified in §§ 37.002 and 37.021 has been in effect from and after January 1, 2004, to the current date, and shall remain at that rate until changed by duly adopted action by the city council.