34-67 New 128.0101 - 128.2702 enact income tax

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-6- b. All sales of tangible personal property which is delivered within the City of Lakewood regardless of where title passes even though transported from a point outside the City of Lakewood if the taxpayer is regularly engaged through its own employees in the solicitation or promotion of sales within the City of Lakewood and the sales result from such solicita- tion or promotion. c. Ail sales of tangible personal property which is shipped from a place within the City of Lakewood to purchasers outside of the City of Lakewood regardless of where title passes if the taxpayer is not, through its own employees, regularly engaged in the solicitation or promotion of sales at the place where delivery is made. Section 128.0703 Tota~ Allocation Add together the percentages determined in accordance with sub-paragraphs"a", "b", and "c" of Section 128.0701 or such of the aforesaid percentages as are applicable.to the particular taxpayer and divide the total so obtained by the number of percentages used in deriving said total in order to obtain ,the business allocation percentage referred to in Section 128.0701. A factor is applicable even though it may be allocable ,entirely in or outside the City of Lakewood. Section 128.0704 Rentals Rental income received by a taxpayer shall be included in the computation of net profits from business activities under Sub-paragraph 3,4 and 5 of Section 128.0501, only if and to the extent that the rental ownership~ management or operations of the real estate from which such rentals are derived (whether so rented, managed or operated by a taxpayer individually or through agents or other representatives) constitutes a business activity of the taxpayer in whole or in part. Where the gross monthly rental of any and all real proper- ties, regardless of number and value, aggregates in excess of Two Hundred Dollars ($200.00) per month, it shall be prima ifacie evidence that the rental, ownership, management or ioperation of such properties is a business activity of such taxpayer, and the net imcome of such rental property shall be subject to tax; provided that in the case of commercial property, the owner shall be considered engaged in a business activity when the rental is based on a fixed or fluctuating percentage of gross or net sales, receipts or profits of the lessee, whether or not such rental exceeds Two Hundred Dollars ($200.00) per month'; and provided further that the person who operates a licensed rooming house shall be considered in business whether or not the gross income exceeds Two Hundred Dollars ($200.00) per month. Section 128.0705 Operating Loss-Carry Forward (1) The portion of a net operating loss sustained in any taxable year subsequent to July 1, 1967 allocable to the City of Lakewood may be applied against the portion of the profit of succeeding tax years allocable to the City of Lakewood,