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<br /> GROSS (g) The term "gross income of the business"
<br /> INCOME means the value proceeding or accruing
<br /> by reason of the transaction of the business engaged in
<br /> and includes gross proceeds of sales, compensation for the
<br /> rendition of services, gains realized from trading in
<br /> stocks, bonds or other evidences of indebtedness, interest,
<br /> discount, rents, royalties, fees, commissions, dividends,
<br /> and other emoluments however designated, all without any
<br /> deduction on account of the cost of tangible property
<br /> sold, the cost of materials used, labor costs, interest,
<br /> discount, delivery costs, taxes or any other expense
<br /> whatsoever paid or accrued and without any deduction on
<br /> account of losses.
<br /> VALUE (h) The term "value proceeding or accruing"
<br /> ACCRUING means the consideration, whether money,
<br /> credits, rights or other property expressed in terms of
<br /> money, actually received or accrued. The term shall be
<br /> applied, in each case, on a cash receipts or accrual basis
<br /> according to which method of accounting is regularly
<br /> employed in keeping the books of the taxpayer. The City
<br /> Clerk may provide by regulation that the value proceeding
<br /> or accruing from sales on the installment plan under
<br /> conditional contracts of sale may be reported as of the
<br /> dates when the payments become due.
<br /> EXTRACTOR (i) The word "extractor" means every person
<br /> who from his own land or from the land of another under
<br /> a right or license granted by lease or contract, either
<br /> directly or by contracting with others for the necessary
<br /> labor or mechanical services, for sale or for commercial
<br /> or industrial use mines, quarries, takes or produces coal,
<br /> natural gas, ore, stone, sand, gravel, clay, mineral or
<br /> other natural resource product, or fells, cuts or takes
<br /> timber or other natural products, or takes, cultiavates,
<br /> or raises fish, shell fish, or other sea or inland water
<br /> foods or products; it does not include persons performing
<br /> under contract the necessary labor or mechanical services
<br /> for others.
<br /> MANUFACTURER (i) The word "manufacturer" means every
<br /> person who, either directly or by contracting with others
<br /> for the necessary labor or mechanical services, manufactures
<br /> for sale or for commercial or industrial use from his
<br /> own materials or ingredients any articles, substances or
<br /> commodities. When the owner of equipment or facilities
<br /> furnishes, or sells to the customer prior to manufacture,
<br /> all or a portion of the materials that become a part or
<br /> whole of the manufactured article, the City Clerk shall
<br /> prescribe equitable rules for determining tax liability.
<br /> TO MAN- (k) The term "to manufacture" embraces all
<br /> UFACTURE activities of a commercial or industrial
<br /> nature wherein labor or skill is applied, by hand or
<br /> machinery, to materials so that as a result thereof a new,
<br /> different or useful articles of tangible personal pro-
<br /> perty or substance of trade or commerce is produced and
<br /> shall include the production or fabrication of special
<br /> made or custom made articles.
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