1967 1021 Ordinance - Laserfiche WebLink

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b. On the portion of the distributive share of the net profits earned on and after October 1, 1967, of a resident partner or owner of a resident unincorporated business entity not attributable to the Village of Mayfield and not levied against such unincorporated business entity. (4) a. On the portion attributable to the Village of Mayfield of the net profits earned on or after October 1, 1967, of all non-resident 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 Village of Mayfield, Ohio, whether or not auch unincorporated business entity has an office or place aE business in the Village of Mayfield, Ohio. b. On the portion of the distributive share of the qet profits earned on or after October 1, 1967, of a resident partner or owner of a non-resident unincorporated business entity ttot attributable to the Village of Mayfield, Ohio, and not levied against such unincorporated business entity. (5) On the portion attributable to the Village of Mayfield, Ohio, of the net profits earned on and after October 1, 1967, of all corparations derived from the sales made, work done, services perfoxmed or rendered and business or other activities conducted in the pillage of Mayfield, Ohio, whether or not such corporations have an office or place of business in the Village of Mayfield, Ohio. Sec. 111.0502. Effective Period. Said tax shall be levied, collected and paid with respect to the salaries, wages, commissions and other compensation, and with respect to the net profits of businesses, professions or other activities earned on and after October 1, 1967. CHAPTER 7 DETERMINATION OF A?.LOCATION OF TAR Sec. 111.0701. Method of Dete"rmination. In the taxation oE income which is subject to Village of Mayfield Income Taxes, if the books and records of a taxpayer conducting a business or profession both within and without the boundaries of the Village of Mayfield shall disclose with reasonable accuracy what portion of its net profit is attritubable to that part of the business or professio¢ conducted within the boundaries of the Village of Mayfield, then only such portion shall be considered as having a taxable situs in the Village of Mayfield for the purposes of municipal income taxation. The portion oE the entire net profits of a taxpayer to be allocated as having been derived from within the Village of Mayfield, Ohio, in the absence of actual records thereof, shall be detetmined as follows: Multiply the entire net profits by a business allocation percentage to be determined by a three-factor foimula of property, payroll, and sales, each of which shall be given equal weight, as follows: 5.