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