Upon every person engaging or continuing in the Town of Star City in the business of banking or financial business, the tax imposed shall be equal to one percent of the gross income received from interest, premiums, discounts, dividends, service fees or charges, commissions, fines, rents from real or tangible personal property, however denominated, royalties, charges for bookkeeping or data processing, receipts from check sales, charges or fees, and receipts from the sale of tangible personal property; provided, however, that gross income shall not include:
(a) Interest received on the obligations of the United States, its agencies and instrumentalities;
(b) Interest received on the obligations of the State of West Virginia or any other state, territory or possession of the United States, or any political subdivision of any of the foregoing, or of the District of Columbia; or
(c) Interest received on investments or loans primarily secured by first mortgages or deeds of trust on residential property occupied by non-transients. (Passed 12-6-83)