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(e) On the portion attributable to the City of North Olmsted of the net profits earned on and after January 1, 1988, by all corporations, derived from sales made, work done, services performed or rendered and business or other activities con- ducted in the City of North Olmsted, whether or not such corporations have an office or place of business in the City of North Olmsted." Section 3. Section 1501.0502 of the Codified Ordinances of the City of North Olmsted, Ohio, as established by Ordinance No. 67-70, passed May 16, 1967, as amended by Ordinance No. 68-105, passed June 18, 1968, is hereby amended to read as follows: "1501.0502 EFFECTIVE PERIOD. The tax imposed by this Title shall be levied, col- lected and paid with respect to the salaries, wages, com- missions and other compensation, and with respect to the net profits of businesses, earned on and after January 1, 1988." Section 4. Section 1501.1302 of the Codified Ordinances of the City of North Olmsted, Ohio, as established by Ordinance No. 67-70, passed May 16, 1967, as amended by Ordinance No. 71-161, passed December 21, 1971, is hereby amended to read as follows: "1501.1302 COLLECTION AT SOURCE. (a) In accordance with the rules and regulations prescribed by the Administrator, each employer within or doing business within the City of North Olmsted shall deduct, at the time of payment of such salaries, wages, commissions or other compensation, the tax of one and one- half percent per annum of the gross salaries, wages, commissions or other compensation due by the employer to his employees and shall, on or before the last day of each month, make a return and pay to the Administrator the amount of taxes so deducted during the previous month; provided, however, that if the amount of the tax so deducted by any employer in any one month is less than one hundred dollars ($100.00), the employer may defer the filing of a return and payment of the amount deducted until the last day of the month following the end of the calendar quarter in which such month occurred. (b) Such returns shall be on a form or forms pre- scribed by or acceptable to the Administrator and shall be subject to the rules and regulations prescribed therefor by the Administrator. Such employer shall be liable for the payment of the tax required to be deducted and withheld whether or not such taxes have, in fact, been withheld. (c) Such employer in collecting the tax shall be deemed to hold the same, until payment is made by such employer to the City of North Olmsted, as trustee for the benefit of the City of North Olmsted, and any such tax collected by such employer from his employees shall be deemed a trust fund in the hands of such employer, until the same is paid to the City of North Olmsted. (d) No person shall be required to withhold the tax on wages or other compensation paid domestic servants - 3 -