1954 ORDINANCES - Laserfiche WebLink

Home Browse Search

mean the gross receipts from any business, profession, trade, occupation, vocation, calling or activity, including cash, credits, fees, commissions, brokerage charges and rentals, and property of any kind, nature or description, from either sales made or services rendered without any deduction therefrom on account of cost of the property sold, the cost of materials, labor or ser- vice or other costs, interest or discounts paid, or any expense whatsoever, and shall include in case of merchants the amount of the sale price of supplies and goods furnished to or used by the licensee or his family or other person for which no charge is made, provided, however, that the term "gross receipts" with respect to manufacturers and wholesale merchants manufactur- ing or dealing in articles upon which there is levied a direct excise tax by the United States shall not include such excise tax payments to the United States Government. The term "gross receipts" when used in connection with, or in respect to, financial transactions involving the sale of notes, stocks, bonds, or other securities, or the loan, collection or ad- vance of money, or the discounting of notes, bills or other evi- dences of debt, shall be deemed to mean the gross, interest, gross discount, gross commission, or other gross receipts earned by means of, or resulting from such financial transactions, but the term "gross receipts" shall not include amounts received as payment of debts. TMe term "gross receipts" shall include the gross receipts from all sales made from a place of business within the City, both to persons within the City and to persons outside the City. The calculation of gross receipts for license tax purposes shall be on either a cash or accrual basis, provided however that the basis used must coincide with the system of accounts use$_ by the taxpayer and the method employed by the taxpayer for Federal and State Income Tax purposes. (c) License Other Than Herein Listed: On every business, profession or occupation for which a license tax shall not have been provided for in this ordinance, the tax shall be the same as that required by the State Tax Laws. (d) Non-Profit—Charity. No tax or license shall be required of any business, trade or occupation which is conducted solely for the purpose of charity or for some purpose of a non-profit nature, provided however that the Commissioner of the Revenue shall not ex-