(a) The tax imposed by this chapter shall be levied, collected and paid with respect to the qualifying wages, commissions, other compensation, and other taxable income earned and received, and shall be levied with respect to the net profits of businesses, professions or other activities earned and accrued or received, commencing 10-1-1967.
(b) Where the fiscal year of the business, profession or other activity differs from the calendar year, the tax shall be applied to that part of the annual net profits for the fiscal year as shall be earned and accrued or received on and after 10-1-1967.
(Ord. 82-6, passed 2-11-1982; Am. Ord. 04-33, passed 8-12-2004)