5571 - Laserfiche WebLink

Home Browse Search

INTRODUCED BY COUNCILMEMBER LEVY BILL NO. 7775 ORDINANCE NO. 5571 AN ORDINANCE AMENDING CHAPTER 18 OF THE MUNICIPAL CODE OF THE CITY OF UNIVERSITY CITY, RELATING TO LICENSES AND BUSINESS REGULATIONS, BY REPEALING SECTION 18-17 RELATING TO ITEMS TO BE EXCLUDED FROM ANNUAL GROSS RECEIPTS, AS AMENDED BY ORDINANCE NO. 5250, ENACTED NOVEMBER 30, 1980, AND ENACTING IN LIEU THEREOF TWO SECTIONS, THE FIRST TO BE KNOWN AS "SEC. 18-17.1. ANNUAL GROSS RECEIPTS--ITEMS TO BE EXCLUDE1' , AMENDING ITEM 8 OE FORMER SECTION 18-1.7;• 'AND ' THE' SECOND ' TO SE KNOWN AS "'SEC. 18-17.2. ANNUAL GROSS RECEIPTS TAX--CREDIT FOR BUSINESS LICENSE FEES PAID TO CITIES OTHER THAN UNIVERSITY CITY"; CON- TAINING A SAVING CLAUSE AND PROVIDING A PENALTY. BE IT ORDAINEb BY THE COUNCIL OF THE CITY OF UNIVERSITY CITY, MISSOURI, AS FOLLOWS: Section 1. Chapter 18 of the Municipal Code of the City of University .City, relating to Licenses and Business Regulations is hereby amended by repealing Section 18-17 relating to items to be excluded from annual gross receipts, as amended by Ordinance No. 5250, enacted November 3, 1980, and enacting in lieu „ thereof two section.s, , the first ,to be known as "Sec. 18-17.1., Annual gross receipts ` --Items to be excluded", amending item 8 of former Section 18-17; and the second, a new section, to be known as "Sec. 18-17.2. Annual gross receipts tax--Credit for business li.c,ense ,.fees paid to cities other than . University City j ,so tbat..said sections as so amended shall read as follows: Sec. 18-17.1. Annual gross receipts--Items to be excluded. The following shall be excluded from annual gross receipts as defined by Section 18-16; provided, that the books of account segregate the amounts so as to reflect these exclusions: 1.' Cash and trade stamp discounts allowed and taken on sales. 2. Value of property accepted as part of the purchase price for subsequent resale. 3. Any sales and excise taxes collected which are separately stated and collected for and paid to a governmental agency. 4. Such part of the sale price of property returned by the y purchaser as is refunded either in cash or by credit. -5. .. Receipts of refundable.deposits, except.,. that refundable deposits forfeited and taken into income of the business shall not be excluded. 6. Collection for others where the business is acting as an agent oritrustee to the extent that payments are made to those for whom collected. 7. Sales of real estate or insurance policies by an agent or broker; or sales of commodities by a commission broker, except that portion of the sale which represents commis- sions or other income to the agent. 8. That portion of the receipts of a general contractor which represent payments to subcontractors, provided however, that payment by the general contractor to the subcontractor must be produced as a condition precedent to the allowance of this exclusion.