When used in this article:
(a) "Tax year" or "taxable year" means the year beginning July 1 and ending June 30.
(b) "Sale", "sales" or "selling" includes any transfer of the ownership of or title to property, whether for money or in exchange for other property.
(c) "Treasurer" means the Treasurer of the City of Vienna.
(d) "Gross income" means 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 (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 designated and without any deductions on account of the cost of property sold, the cost of material used, labor costs, taxes, royalties, interest or discount paid or any other expense whatsoever.
(e) "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" does not include a casual sale by a person who is not engaged in the business of selling the type of property involved in the casual sale. "Business" includes the production of natural resources or manufactured products which are used or consumed by the producer or manufacturer and includes the activities of a banking business or financial organization.
(f) "Gross proceeds of sales" means the value actually proceeding from the sale of tangible property without any deductions on account of the cost of property sold or expense of any kind. The terms "gross income" and "gross proceeds of sales" shall not be construed to include:
(1) Cash discounts allowed and taken on sales;
(2) The proceeds of sale of goods, wares or merchandise returned by customers when the sale price is refunded either in cash or by credit;
(3) The amount allowed as trade-in value for any article accepted as part payment for any article sold;
(4) Excise taxes imposed by the State; or
(5) 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.
(g) "Service business or calling" includes all activities engaged in for other persons for a consideration, which involve the rendering of a service as distinguished from the sale of tangible property, but does not include the services rendered by an employee to his employer.
(h) "Banking business" or "financial organization" means any bank, banking association, trust company, industrial loan company, small loan company or licensee, building and loan association, savings and loan association, finance company, investment company, investment broker or dealer, and any other similar business organization at least ninety percent of the assets of which consists of intangible personal property and at least ninety percent of the gross receipts of which consists of dividends, interest and other charges derived from the use of money or credit.
(i) "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 or existing building or structure, or any part thereof, or for the alteration, improvement or development of real property.
(3-27-75)