|
•
<br /> ` • + • • ,.
<br /> -
<br /> •
<br /> however designated, all without any deduction on account of the cost
<br /> of tangible property sold, the cost of materials used, labor costs ,
<br /> interest , discount , delivery costs, taxes or any other expense what-
<br /> soever paid or accrued and without any deduction on account of
<br /> losses.
<br /> VALUE (h) The term "value proceeding or accruing" means the
<br /> ACCRUING consideration, whether money, credits, rights or other property
<br /> expressed in terms of money, actually received or accrued. The
<br /> term shall be applied, in each case , on a cash receipts or accrual ,
<br /> basis according to which method of accounting is regularly employed
<br /> in keeping the books of the taxpayer. The City Clerk may provide by L .
<br /> regulation that the value proceeding or accruing from sales on the
<br /> installment plan under conditional contracts of sale may be reported
<br /> as of the dates when the payments become due.
<br /> EXTRACTOR (i) The word "extractor" means every person who from
<br /> his own land or from the land of another under a right or license
<br /> granted by lease or contract, either directly or by contracting with
<br /> others for the necessary labor or mechanical services , for sale or
<br /> for commercial or industrial use mines , cuarries , takes or produces
<br /> coal, oil, natural gas , ore , stone, sand, gravel, clay, mineral or
<br /> other natural resource product, or fells, cuts or takes timber or
<br /> other natural products, or takes , cultivates, or raises fish, shell
<br /> fish, or other sea or inland water foods or products ; it does not
<br /> include persons perforiiiinp.. under contract the necessary labor or
<br /> mechanical services for others.
<br /> iv1ANUFAC- (j) The word "manufacturer" means every person who ,
<br /> TURER either directly or by contracting with others for the necessary labor'
<br /> or mechanical services , manufactures for sale or for commercial or
<br /> industrial use from his own materials or ingredients any articles,
<br /> substances or commodities. When the owner of equipment or facilities
<br /> furnishes , or sells to the customer prior to manufacture , all or a
<br /> portion of the materials that become a part or whole of the manufac-
<br /> tured article , the City Clerk shall prescribe ecuitable rules for
<br /> determining tax liability.
<br /> TO IgANUFAC- (k) The term "to manufacture" embraces all activities
<br /> TURE of a commercial or industrial nature wherein labor or skill is applied ,
<br /> by hand or machinery, to materials so that as a result thereof a new,
<br /> different or useful article of tangible personal property or sub-
<br /> stance of trade or commerce is produced and shall include the pro-
<br /> duction or fabrication of special made or custom made articles.
<br /> (1) The term "commercial or industrial use" means the
<br /> CIAL USE following uses of products, including by-products, by the extractor
<br /> or manufacturer thereof:
<br /> (1) Any use as a consumer; and
<br /> (2) The manufacturing of articles , substances or
<br /> commodities from extracted products , including
<br /> by-products.
<br /> t3L:>Itv ;65 (m) The word "business" includes all activities engaged
<br /> in with the object of gain, benefit or advantage to the taxpayer or
<br /> to another person or class , directly or indirectly.
<br /> - 3
<br />
|