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'~ ~ i..I':.~I II'~L4 Ili I I <br />175.0318 TAXABLE INCOME. <br />~~. ~~ <br /> <br /> <br /> <br /> <br />"Taxable income" means waaes. salaries, and other compensation paid by an <br />employer or employers before any deductions and/or the netprofits from the operation <br />of a business profession or other enterprise or activity adjusted in accordance with the <br />provisions of this chapter and shall also include the following: <br />1. "Business income" means income arising from transactions, activities, and <br />sources in the regular course of a trade or business and includes income <br />from tangible and intangible property if the acquisition rental <br />management and disposition of theproperty constitute integral parts of a <br />trade or business operation. , <br />2. "Non-business income" means all income other than business income and <br />may include but is not limited to compensation rents and royalties from <br />real or tangible personal property or lottery winni ~s prizes and awards. <br />3. "Compensation" means any form of remuneration including, but not limited <br />to wages salaries commissions or other types of compensation_ in <br />service of an employer paid to an employee or individual for personal <br />services. <br />4. "Games of chance" as defined by Internal Revenue Service Code. <br />5. "Games of chance winnings" means those monetary prizes received by an <br />individual or an estate after playing a game of chance these winnings are <br />considered non-business income and are not considered to be intangible <br />income. <br />(Ord. 1021. Passed 8-21-67.) <br />X:1MayBeId~MFV Legis~2004 Legis1175.0318.wpd <br />