Ordinance 3237 - Laserfiche WebLink

• • resort or other institution devoted exclusively to the care or heal- ing of human beings : Provided, that no exemption is granted where the income therefrom inures to the benefit of any physician, surgeon, stockholder or individual by virtue of ownership or control of such hospital, clinic , resort or other institution. (j) Amounts derived from the lease, rental or sale of real estate : Provided, however, that nothing herein shall be construed to allow a deduction of amounts derived fro, engaging in any business wherein a mere license to use or enjoy real property is granted, or to allow a deduction of amounts received as commis- sions from the sale or rental of real estate . (k) National banks , state banks, trust companies, mutual savings banks , building and loan and savings and loan associa- tions with respect to their banking business, trust business or savings and loan business out not with respect to engaging in any other business taxable hereunder, even though such other business be conducted primarily for the purpose of liquidating the assets thereof. (1) The business of manufacturing, selling or dis- triouting motor vehicle fuel, as that term is defined in Chapter 58, Laws of 1933 , as amended. (m) Liquor as defined by State law (Sec . 7306-3 , Rem. Rev. Stat. ) Section 9: DEDUCTIONS ALLOWED IN COt'APUTING LICENSE FEES: deductions In computing the license fee or tax there may be deducted from the measure of tax the following items : (a) Amounts derived by persons, other than those engaging in banking, loan, security or other financial businesses, from investments or the use of money as such. (b) Amounts derived from bona fide initiation fees, dues, contributions , donations, tuition fees and endowment funds. The provisions of this paragranh shall not oe construed to exempt any person, association or society from tax liability upon selling tangible personal property or upon providing facilities or services for which a special charge is made to members or others: Provided that dues which are for, or graduated upon, the amount of service rendered by the recipient thereof are not permitted as a deduction hereunder. (c) The amount of cash discount actually taken by the :_purchaser. This deduction is not allowed in arriving et the taxable amount under the extractive and/or manufacturing classifica- tions with respect to articles produced or {anufactured, the reported values of which, for the purpose of this tax, have been com-puted according to the provisions of Section 5 hereof. (d) The amount of credit los _es actually sustained by taxpayers whose regular books of account are kept upon an accrual basis. -8-