(a) There shall be an exemption of twenty-five dollars ($25.00) per quarter as to the amount of tax computed under the provisions of this article. Any person exercising a privilege taxable hereunder for a fractional part of a tax quarter shall be entitled to an exemption of the sum bearing a proportionate share to that period of time the privilege bears to the entire quarter. When an exemption is not used in full in one quarter, the unused amount shall not be carried forward in subsequent quarterly periods. Only one exemption shall be allowed to anyone person per quarter, whether he exercises one or more privileges taxable hereunder. The provisions of this article do not apply to:
(1) Insurance companies which pay the State a tax upon premiums. The exemption shall not extend to that part of the gross income of insurance companies which is received for the use of real property, other that property in which any the company maintains its office or offices in this City, whether the income be in the form of rentals or royalties;
(2) Nonprofit cemetery companies organized and operated for the exclusive benefit of their members;
(3) Fraternal societies, organizations, associations organized and operated for the exclusive benefit of their members and not for profit; provided, however, that the exemption shall not extend to that part of the gross income arising from the sale of alcoholic liquor, food and related services, of such fraternal societies, organizations and associations which are licensed as private clubs under the provisions of West Virginia Code Article 60-7;
(4) Corporations, associations and societies organized and operated exclusively for religious or charitable purposes;
(5) Production credit association, organized under the provisions of the Federal Farm Credit Act of 1933;
(6) Any credit union organized under the provisions of West Virginia Code Chapter 31 or any other chapter therein . The exemptions of this section do not apply to corporations or cooperative associations organized under the provisions of West Virginia Code Article 19-4.
(b) Increase or Decrease Exemption.
(1) Council may, by Resolution, increase or decrease the twenty-five dollar ($25.00) per quarter exemption as to the amount of tax computed under this article, to an amount not less than twenty-five dollars ($25.00), said amount to be set by Counsel by Resolution, and said amount shall not be for more than a single quarter; said exemption shall be only for the quarter specified in the Resolution and shall return at the end of the specified quarter, to the amount set out in subsection (a) hereof.
(Ord. 09-2020. Passed 12-10-20.)