71-10 Amend Chpt 128, Municipal Income Tax

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" erson", as applied to any unincorporated entity, shall mean the partners or members thereof, and as applied to corporations the ofFcers thereof. 128.0315 PLACE OF BUSINESS. "Place of business" means any bona fide office (other than a mere statutory office), factory, warehouse or other space which is occupied and used by the taxpayer in carrying on any business activity indroidually or through one or more of his regular employees regularly in attendance. 128.0316 RESIDENT. "Resident" means an individual domiciled in the City of Lakewood but shall not include those individuals. attending an accredited college or university on a full-time basis who reside within the City sixteen weeks or less during the taxable year. 128.0317 RESIDENT UNINCORPORATED BUSINESS ENTITY. "Resident unincorporated business entity" means an unincorporated business entity having an office or place of business within the City of Lakewood. 128.03171 S CORPORATION. °S Corporation" or "Subchapter S Corporation" means any association that has made an election under Subchapter S of Chapter 1 of Subtitle A of the Internal Revenue Code for its taxable year.. 128.0318 TAXABLE INCOME. Taxable income means wages, salaries and other coin ensation paid by an employer or employers before any deduction and/or the net profpts from the operation of a business, profession or other enterprise or activity adjusted in accordance with the provisions of this chapter. Taxable income shall include lottery winnings, gambling and gaming winnings. 128.0319 TAXABLE YEAR. "Taxable year" means the calendar year or the fiscal year upon the. basis of which the net profits are to be computed under this chapter, and m the case of a fractional part of a year, the period for which .such return is required to be made. 128.0320 TAXPAYER. "Taxpayer" means a .person, whether an individual, partnership, association or any corporation or other entity, required hereunder to file a return or pay a tax. IMPOSITION OF INCOME TAX 128.0501 RATE AND INCOME TAXABLE. An annual tax for the purposes specified in Section 128.0101 shall be imposed on and after January 1, 1981, at the rate of one and one-half percent (1-1/2%} per annum upon the following: (a) On all salaries, wages, commissions and other compensation including lottery winnings, gambling and gaming winnings, earned on and after January 1 1981, by residents of the City. (b) On all salaries, wagges, commissions and other compensation earned on and after January 1, 1981 by nonresidents of the City for work done or services performed or rendered within the City. (c) (1) On the portion attributable to the City on the net profits earned on and after January 1, 1981, of all resident unincorporated business entities or professions or other activities, derived from sales made, work done, services performed or rendered and business or other