Ordinance 194-72 - Laserfiche WebLink

• C a ' 1 • • + r ' • • • 1 ments, or any other charges, payments or contributions representing a share of the cost of capital facilities 2 constructed or to be constructed or for the retirement of obligations in payment of interest thereon issued for 3 capital purposes; provided, however, that service charges shall not be included in this exemption even though used 4 wholly or in part for capital purpos es. " 5 Section 2: 6 Section 9 of Ordinance No. 3292, as amended by Ordinance 7 No. 3705 (ECC 4. 02. 220) is hereby amended in full to read hereafter as 8 follows: 9 "Section 9 - DEDUCTIONS ENUMERATED 10 In computing tax there may be deducted from the measure of tax the following items: 11 ( 1) Amounts derived by persons, other than those engaging 12 in banking, loan security, or other financial businesses, frorr+ investments or the use of money as such, and also amounts 13 derived as dividends by a parent from its subsidiary corpor- ations; 14 (2) Amounts derived from bona fide initiation fees, dues, 15 contributions, donations, tuition fees, charges made for operation of privately operated kindergartens, and endow- 16 ment funds. This paragraph shall not be construed to exempt any person, association, or society from tax liability 17 upon selling tangible personal property or upon providing facilities or services for which a special charge is made to 18 members or others. Dues which are for, or graduated upon, the amount of service rendered by the recipient thereof are 19 not permitted as a deduction hereunder; 20 (3) The amount of cash discount actually taken by the purchaser. This deduction is not allowed in arriving at the 21 taxable amount under the extractive or manufacturing classifications with respect to articles produced or manufactured, 22 the reported values of which, for the purposes of this tax, have been computed according to the provisions of 23 RCW 82. 04. 450; 24 (4) The amount of credit losses actually sustained by taxpayers whose regular books of account are kept upon an 25 accrual basis; 26 (5) So much of the sale price of motor vehicle fuel as constitutes the amount of tax imposed by the state or the 27 United States government upon the sale thereof; 28 (6) Amounts derived from business which the state is prohibited from taxing under the Constitution of this state 29 or the laws of the United States; 30 (7) Amounts derived by any person as compensation for the receiving, washing, sorting, and packing of fresh perishable 31 horticultural products and the material and supplies used therein when performed for the person exempted in 32 RCW 82. 04. 330, either as agent or as independent contractor; -4-