(a) In the case of trades, businesses, professions, other activities, enterprise or undertakings conducted, operated, engaged in, prosecuted or carried on by residents of the Municipality of Wauseon, there is imposed an annual tax of one and one half percent on the net profits earned or accruing on and after October 1, 1970.
(b) For the purpose of construing Section 191.02(a)(3), and (4) of the Ordinance, the term "residents" in the phrase "conducted by residents of the Municipality of Wauseon", will ordinarily be construed to have reference to the business entity itself, as distinguished from the partners, proprietors or other participants in its profits.
(c) Generally, a partnership, association or other unincorporated enterprise owned by two or more persons will be taxed as an entity. However, in the case of a nonresident partnership, association or unincorporated enterprise which cannot be reached or taxed directly by the Municipality of Wauseon, or if only part of its earnings may be directly taxed, the in either such case, resident partners, co-owners, proprietors or other participants in the profits thereof must include in their declarations and tax returns their distributive shares of such profits or portion thereof not taxed to the business enterprise as an entity, and must pay the tax thereon.
(d) The tax imposed under Section 191.02(a)(3) of the Ordinance is levied upon the entire net profits of the resident trade, business, profession, other activity, enterprise or undertaking, wherever earned, paid or accrued and regardless of the fact that any part of such business or professional activity may have been conducted at or through a place or places of business located outside the Municipality.
(Res. 1970-14. Passed 8-24-70.)