71-10 Amend Chpt 128, Municipal Income Tax

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activities conducted in the City. (2) On the portion of the distributive share of the net profits earned on and after January 1, 1981, of a resident partner or owner of a resident unincorporated business entity not attributable to the City and not levied against such unincorporated business entity by the City. (d) (1) On the portion attributable to the City of the net profits earned on or after January 1, 1981, of all nonresident unincorporated business entities, professions or other activities, derived from sales made, work done, services performed or rendered and business and other activities conducted in the City, whether or not such unincorporated business entity has an office or place of business in the City. (2) On the portion of the distributive share of the net profits earned on or after January 1, 1981, of a resident partner or owner of a nonresident unincorporated business entity not attributable to the City, and not levied against such unincorporated business entity by the City. (e) On the portion attributable to the City.of the net profits earned on and after January 1, 1981, of all corporations derived from sales made, work done, services performed or rendered and business or other activities conducted in the City, whether or not such corporations have an office or place of business in the City. (Ord. 43-80. Approved by voters 11-4-80.) (f) On the portion attributable to this municipality pursuant to the terms of this chapter and including: (1) "Royalty income' which means income earned from a royalty interest m the production of an oil or gas well whether managed, extracted or operated by the taxpayer individually or through an agent or other representative, shall be included. in the computation. of net profits from a business activity to the extent that such royalty interest constitutes a business activity of the taxpayer. Where. the gross income received by a taxpayer from a royalty interest in the production of an oil or ggas well in a taxable year exceeds three thousand dollars ($3,000), it shall be prima facie evidence that the income was derived from a business activity of such taxpayer and the net income from such royalty interest shall be subject to tax. (2) The employer's income derived from finance and carrying charges associated with their consumer's accounts receivable. 128.0502 EFFECTIVE PERIOD. Such tax shall be levied, collected and paid with respect to the salaries wages, commissions and other compensation, including lottery winnings, gambling anc~ gaming winnings, and with respect to the net profits of businesses, professions or other activities earned on and after January 1, 1981. DETERMINATION OF ALLOCATION OF TAX 128.0701 METHOD OF DETERMINATION. In the taxation of income which is subject to the City income tax, if the books and records of a taxpayer conducting a business or profession both within and without the boundaries of the City disclose with reasonable accuracy what portion of its net profit is attributable to that part of the business or profession conducted within the boundaries of the City, then only such portion shall be considered as having a taxable situs in the City for the purposes of municipal income taxation. The portion of the entire net profits of a taxpayer to be allocated as having been derived from within the City, in