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amount of tax on account of such activities shall be equal to the gross income of the <br /> business multiplied by the rate of one-tenth of one percent where such gross income is <br /> up to and including eight billion five hundred million dollars and where such gross <br /> income exceeds eight billion five hundred million dollars,such gross income so <br /> exceeding the eight billion five hundred million dollars shall be multiplied by the rate of <br /> twenty-five-hundredths of one percent; <br /> c. For the years beginning January 1, 2028, and ending December 31, 2030, upon every <br /> other person engaging within the city in any business activity other than or in addition <br /> to those enumerated in the above subsections (A)(1)to (A)(6); as to such persons,the <br /> amount of tax on account of such activities shall be equal to the gross income of the <br /> business multiplied by the rate of one-tenth of one percent where such gross income is <br /> up to and including nine billion dollars and where such gross income exceeds nine billion <br /> dollars, such gross income so exceeding the nine billion dollars shall be multiplied by the <br /> rate of twenty-five-hundredths of one percent; <br /> d. For the years beginning January 1, 2031, and ending December 31, 2033, upon every <br /> other person engaging within the city in any business activity other than or in addition <br /> to those enumerated in the above subsections (A)(1)to (A)(6); as to such persons,the <br /> amount of tax on account of such activities shall be equal to the gross income of the <br /> business multiplied by the rate of one-tenth of one percent where such gross income is <br /> up to and including nine billion five hundred million dollars and where such gross <br /> income exceeds nine billion five hundred million dollars, such gross income so exceeding <br /> the nine billion five hundred million dollars shall be multiplied by the rate of twenty- <br /> five-hundredths of one percent; and <br /> e. For the years beginning January 1, 2034, upon every other person engaging within <br /> the city in any business activity other than or in addition to those enumerated in the <br /> above subsections (A)(1)to (A)(6); as to such persons,the amount of tax on account of <br /> such activities shall be equal to the gross income of the business multiplied by the rate <br /> of one-tenth of one percent. <br /> B. The gross receipts tax imposed in this section shall not apply to any person whose gross proceeds <br /> of sales,gross income of the business, and value of products, including byproducts, as the case may <br /> be, from all activities conducted within the city during any calendar year is equal to or less than <br /> twenty thousand dollars, or is equal to or less than five thousand dollars during any quarter if on a <br /> quarterly reporting basis. <br /> Section 2. The City Clerk and the codifiers of this Ordinance are authorized to make necessary <br /> corrections to this Ordinance including, but not limited to,the correction of scrivener's/clerical errors, <br /> references, ordinance numbering,section/subsection numbers, and any internal references. <br /> Section 3. The City Council hereby declares that should any section, paragraph, sentence, clause or <br /> phrase of this ordinance be declared invalid for any reason, it is the intent of the City Council that it <br /> would have passed all portions of this ordinance independent of the elimination of any such portion as <br /> L 2021 ORDINANCE: Business&Occupation Tax Page 10 of 11 <br />