Ordinance 194-72 - Laserfiche WebLink

4...e„ X04"4)-5 • ORDINANCE NO. l ? L - 7 2-- A N AN ORDINANCE establishing a business and occupation tax upon national banks, state banks, trust companies, mutual savings banks, building and loan associations, 1 savings and loan associations and other financial institutions for the act or privilege of engaging in 2 business in the City of Everett; amending Section 8 of Ordinance No. 3292, as amended by Ordinance 3 No. 3726 (ECC 4. 02. 210); amending Section 9 of Ordinance No. 3292, as amended by Ordinance No. 4 3705 (ECC 4. 02. 220) and declaring an emergency to exist. 5 WHEREAS, Chapter. 134 of the Laws of Washington, 1972, 6 Second Extraordinary Session states that the governing body of any city or 7 town which imposes a license fee or tax may fix and impose a license fee or 8 tax on national loan associations, savings and loan associations and other 9 financial institutions for the act or privilege of engaging in business, and 10 WHEREAS, the City Council of the City of Everett finds that pursuant to the said authority it is in the best interests of the City of P 11 Everett to immediately establish a license fee on said banks and other 12 financial institutions, 13 NOW, THEREFORE, THE CITY OF EVERETT DOES ORDAIN: Section 1: 14 Section 8 of Ordinance No. 3292, as amended by Ordinance 15 No. 3726 (ECC 4. 02. 210) is hereby amended in full to read hereafter as 16 follows: "Section 8 - EXEMPTIONS: The provisions of this ordinance 17 shall not apply to: (a) Any person engaging in any business activity 18 where the value of products, gross proceeds of sales 19 or gross income of the business is less than Nine Hundred ($900. 00) Dollars for a quarterly period; 20 provided, however, that where one person engages in more than one business activity and the combined 21 measures of tax applicable to such businesses equal or exceed Nine Hundred Dollars ($900.,00) for a 22 quarterly period, no exemption or deduction from the amount of tax is allowed by this provision; 23 provided, further, that any person claiming exemption under the provisions of this subsection shall be required to file returns as provided herein, even 24 though no tax may be due. 25 (b) All persons subject to occupational tax under provisions of Ordinance No. 2711 or exempted from 26 payment of occupational tax under Ordinance No. 2711 by reason of payment of a franchise tax of two percent 27 upon the gross income or gross earnings of said business are hereby exempted from a levy of an 28 occupational tax under provisions of this ordinance. All persons subject to tax under Ordinance No. 3272 are 29 exempt from payment of this occupational tax. 30 (c) Any person in respect to insurance business upon which a tax based on gross premiums is paid to the 31 State of Washington; provided, however, that the 32 provisions of this subsection shall not exempt any person engaging in the business of representing any insurance company, whether as general or local agent or acting -1-