§ 880.03 IMPOSITION OF DIRECT TAX.

Subject to the provisions of §§ 880.16 and 880.20, an annual tax for the purposes specified in § 880.01 shall be imposed on and after 1-1-2011, at the rate of two and one-quarter percent per annum on taxable income as specified in Article III, paragraph A.1, of the Income Tax Rules and Regulations.

(Ord. 91-24, passed 5-16-1991: Am. Ord. 10-27, passed 6-24-2010)

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