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• <br /> property or service for which such charges are <br /> made is furnished exclusively to the students or <br /> faculty of such institution; provided, that the <br /> term, "educational institution, " as used herein, <br /> shall be construed to mean only those institutions <br /> created or generally accredited as such by the <br /> state and offering to students an educational <br /> program of a general academic nature or those <br /> institutions which are not operated for profit and <br /> which are privately endowed under a deed of trust <br /> to offer instruction in trade, industry and <br /> agriculture, but not including specialty schools, <br /> business colleges, other trade schools or similar <br /> institutions. <br /> AA. "Value proceeding or accruing" means the <br /> consideration, whether money, credit, rights or <br /> other property expressed in terms of money, <br /> actually received or accrued. The term shall be <br /> applied, in each case, on a cash receipts or <br /> accrual basis according to which method of <br /> accounting is regularly employed in keeping the <br /> books of the taxpayer. The City Clerk may provide <br /> by regulation that the value proceeding or <br /> accruing from sales on the installment plan under <br /> conditional contracts of sale may be reported as <br /> of the dates when the payments become due. <br /> Section 3 : Referendum Provisions. <br /> The citizens of the city are put on notice that this chapter <br /> is subject to Article XI of the Charter of the city. <br /> Article XI entitles direct legislation and provides <br /> procedures which must be followed for exercising the power <br /> of initiative or referendum, and the Charter Article XI <br /> shall be the special initiative procedure adopted on this <br /> chapter pursuant to RCW 35. 21. 706 . <br /> Section 4 : Persons Subject to Tax. <br /> There is hereby levied upon and there shall be collected <br /> from every person as hereinafter provided, for the act or <br /> privilege of engaging in business activities within the <br /> city, whether their office or place of business be within <br /> and/or without the city, a license fee or occupation tax, in <br /> amounts to be determined by application of rates given <br /> against value of products, gross proceeds of sale, or gross <br /> income of the business, as the case may be, for the three <br /> calendar months next preceding the beginning of each <br /> quarterly period, as follows: <br /> A. Upon every person engaging within this city in <br /> business as an extractor; as to such persons the <br /> amount of the tax with respect to such business <br /> 8 <br />