71-10 Amend Chpt 128, Municipal Income Tax

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or independent contractor up through each subcontractor, contractor, general contractor, and even to the owner, except as that owner may be exempt .under subsection (b) herein, to ensure that income taxes on construction projects are paid as required. No good faith exception under Section 128.1503 shall be ermitted to limit liability under this section. Issuance of an IRS Form 1099 is not a defense, but may be evidence of liability under this section. (b) Notwithstanding the foregoing, the owner or owners pf residential premises and who also occupy those premises shall be exempt from liability under this section if the total cost of the prolect at .the residence is fifty thousand dollars ($50,000)or less and the owner or owners have obtained written confirmation that the contractor employed for the project Is registered with the City of Lakewood prior to the commencement of work. (c) The City will not issue any type of building, occupancy or construction permit to ariy individual or entity unless first presented with documentation from the Tax Administrator that all taxes required to be paid or withheld under this Chapter have been paid to the City. (d) The City will not release draws for work performed on any construction project undertaken by the City to any individual or entity working on such protect until presented with documentation from the Tax Administrator that all taxes required to be paid or withheld under this Chapter have been paid and forwarded to the City. shall be and is hereby amended to read as follows: ENACTMENT 128.0101 PURPOSE OF LEVY OF INCOME TAX. To provide funds for the purposes of general municipal functions of the City, there shall be and is hereby levied a tax on all income, salaries, qualifying wages, commissions and other compensations, and on net profits as hereinafter provided. DEFINITIONS 128.0301 DEFINITIONS GENERALLY. For the purposes of this chapter, the terms, phrases, words and their derivatives. shall have the meanings given in the .next succeeding sections. The singular shall include the plural, and the masculine shall include the feminine and the neuter. 128.03011 AD7USTED FEDERAL TAXABLE INCOME °Adjusted federal taxable income" means a °C" corporation's federal taxable income before net operating losses and special deductions as determined under the Internal Revenue Code, but including subsequent adjustments from required additions and deductions. Pass-through entities must compute ~~adjusted federal taxable income" as if the pass-through entity was a "C" corporation. This definition does not apply to