(A) Purpose of Tax. To provide funds for the purposes of general Municipal functions of the City, there is hereby levied a tax on all salaries, wages, commissions and other compensation, and on net profits as hereinafter provided.
(B) Rate of Tax. An annual tax for the purposes specified in Section 194.012 (1) shall be imposed on and after January 1, 2016, at the rate of two percent (2%) per year upon all income subject to this chapter. (Ord. 2015-44. Passed 12-21-15.)