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MAYFIELD VILLAGE INCOME TAX ORDINANCE Effective January 1, 2016 Ordinance No. 2015 - 23 SECTION 1 AUTHORITY TO LEVY TAX; PURPOSE OF TAX. (A) To provide funds for the purposes of general municipal operations, maintenance, new equipment, extension and enlargement of municipal services and facilities and capital improvements, Mayfield Village (the "Village") hereby levies an annual municipal income tax on income, qualifying wages, conunissions and other compensation, and on net profits as hereinafter provided. (B)(1) The annual tax is levied at a rate of 2% (two percent). The tax is levied at a uniform rate on all persons residing in or earning or receiving income in the Village. The tax is levied on income, qualifying wages, commissions and other compensation, and on net profits as hereinafter provided in Section 3 of this Ordinance and other sections as they may apply. (2) Intentionally left blank. (C) The tax on income and the withholding tax established by this Ordinance 2015 - 23 are authorized by Article XVIII, Section 3 of the Ohio Constitution. The tax is levied in accordance with, and is intended to be consistent with, the provisions and limitations of Ohio Revised Code 718 (ORC 718). SECTION 2 DEFINITIONS. (A) Any term used in this ordinance that is not otherwise defined in this ordinance has the same meaning as when used in a comparable context in laws of the United States relating to federal income taxation or in Title LVII of the ORC, unless a different meaning is clearly required. If a term used in this ordinance that is not otherwise defined in this ordinance is used in a comparable context in both the laws of the United States relating to federal income tax and in Title LVII of the ORC and the use is not consistent, then the use of the teen in the laws of the United States relating to federal income tax shall control over the use of the term in Title LVII of the ORC. (B) The singular shall include the plural, and the masculine shall include the feminine and the gender- neutral. (C) As used in this ordinance: (1) "Adjusted federal taxable income," for a person required to file as a C corporation, or for a person that has elected to be taxed as a C corporation under (C)(24)(d) of this division, means a C corporation's federal taxable income before net operating losses and special deductions as determined under the Internal Revenue Code, adjusted as follows: