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(a) To provide funds for the purpose of capital improvements and general operations of the Village of Yellow Springs (the "Village") there is hereby levied a tax on salaries, wages, commissions and other compensation and on net profits as hereinafter provided.
(b) The annual tax is levied at a rate of one and one-half percent. The tax is levied at a uniform rate on all persons residing in or earning or receiving income in the Village. The tax is levied on income, qualifying wages, commissions and other compensation, and on net profits as hereinafter provided in Section 881.03 and other sections as they may apply.
(c) The tax on income and the withholding tax established by this chapter are authorized by Article XVIII, Section 3 of the Ohio Constitution. The tax is levied in accordance with, and is intended to be consistent with, the provisions and limitations of Ohio R.C. Chapter 718. This chapter is effective for tax years beginning on or after January 1, 2016. Municipal taxable years beginning on or before December 31, 2015 are subject to Chapter 880, and any amendments thereto, and rules and regulations, and any amendments thereto, as they existed before January 1, 2016.
(Ord. 2015-19. Passed 11-16-15.)