The tax regulations imposed by this chapter varies from the income tax imposed by the Congress of the United States. The rules and regulations imposed, in accordance with the chapter, by the City Tax Commissioner need not correspond with those imposed by the Internal Revenue Service.
Subject to provisions of § 94A.19 of this chapter, an annual tax, for the purposes specified in § 94A.01 of this chapter, shall be levied on and after July 1, 2004, at the rate of one and one-half percent (1.5%) per annum, per Exhibit A attached to Ordinance 17-2004, incorporated herein by reference, upon the following:
(A) On all gross salaries, wages, including sick and vacation pay, commissions, deferred and all other compensation earned during the effective period of this chapter by residents of this city.
(B) On all gross salaries, wages, including sick and vacation pay, commissions, deferred and other compensation earned during the effective period of this chapter by nonresident individuals for work done or services performed or rendered in this city unless the total amount of days worked within this city is 12 or fewer days in a calendar year. (Ord. 74-1986, passed 11-5-86)
(C) (1) On the portion attributable to the city of the net profits, earned during the effective period of this chapter, of all resident associations, unincorporated businesses, S corporations, pass-through entities, professions, or other entities, derived from sales made, work done or services performed or rendered, or business or other activities conducted in this city. Tax imposed on entities owned by two or more persons is upon the entity rather than the individual owners or members.
(2) On a resident individual’s share of the net profits of a resident association, pass-through entity earned during the effective period of this chapter. Municipal tax paid by the entity shall be credited to the individual’s earnings tax pursuant to § 94A.19.
(D) (1) On the portion attributable to this city of the net profits earned during the effective period of this chapter, of all nonresident associations, unincorporated businesses, S corporations, pass-through entities, professions, or other entities, derived from sales made, work done or services performed or rendered, business or other activities conducted in this city, whether or not the entity has an office or place of business in this city. Tax imposed on entities owned by two or more persons is upon the entity rather than the individual owners or members.
(2) On a resident individual’s share of the net profits of a nonresident association, pass-through entity or other unincorporated entity earned during the effective period of this chapter. Municipal tax paid by the entities shall be credited to the individual’s earnings tax pursuant to § 94A.19.
(E) On the net profits, earned during the effective period of this chapter, of all corporations derived from sales made, work done or service performed or rendered and business or other activities conducted in this city, whether or not the corporations have an office or place of business in the city.
('68 Code, § 300.6)
(Am. Ord. 92-2000, passed 12-6-00; Am. Ord. 8-2001, passed 2-7-01; Am. Ord. 48-2003, passed 12-17-03; Am. Ord. 17-2004, approved 5-5-04)