181.03 IMPOSITION OF TAX.

   There is hereby levied a tax, which shall be collected and paid with respect to the salaries, wages, commissions and other compensation earned and shall be levied with respect to the net profits of the businesses, professional or other activities earned. This tax shall be levied at the rate of two and one-half percent (2.5%) per annum on the following:

   (a)   On all qualifying wages, commissions, other compensation, and other taxable income earned or received by residents of the Municipality effective January 1, 2011.

   (b)   On all qualifying wages, commissions, other compensation, and other taxable income earned or received by nonresidents for work done or services rendered in the Municipality effective January l, 2011.

   (c)    On the portion attributable to the Municipality of the net profits earned by all resident unincorporated businesses, pass-through entities, professions or other activities, derived from work done or services performed or rendered, and business or other activities conducted in the Municipality. On the portion of the distributive share of the net profits earned by a resident owner of a resident unincorporated business entity or pass-through entity not attributable to the Municipality and not levied against such unincorporated business entity or pass-through entity.

   (d)    On the portion attributable to the Municipality of the net profits by all nonresident unincorporated businesses, pass-through entities, professions or other activities, derived from work done or services performed or rendered and business or other activities conducted in the Municipality, whether or not such unincorporated business entity has an office or place of business in the Municipality. On the portion of the distributive share of the net profits earned by a resident owner of a nonresident unincorporated business entity or pass-through entity not attributable to the Municipality and not levied against such unincorporated business entity or pass-through entity.

   (e)    On the portion attributable to the Municipality of the net profits earned by all corporations, estates and trusts that are not pass-through entities from work done or services performed or rendered and business or other activities conducted in the Municipality, effective for all accounting periods commencing on or after January 1, 2011.

   (f)    On all income received as gambling winnings as reported on IRS Form W-2G, Form 5754 and/or any other form required by the Internal Revenue Service that reports winnings from gambling, prizes and lottery winnings.

      (Ord. 39-10. Passed 7-20-10.)