HomeMy WebLinkAbout1974-1627 ANNUAL LICENSE FEE OR TAX ON FINANCIAL INSTITUTIONS. 7
ORDINANCE NO. /
AN ORDINANCE relating to license and business regulations; imposing
an annual license fee or tax on financial institutions;
specifying exemption of certain businesses from the
general occupation tax of the City; enacting Section
5.52.025 as a new section and amending Section 5.52.050
411 of the City of Yakima Municipal Code.
WHEREAS, Chapter 82.14 A of the Revised Code of Washington
authorizes cities within the state to impose a. license fee or tax
on financial institutions for the act or privilege of engaging in
business, and
WHEREAS, financial institutions doing business in the City of
Yakima have heretofore been exempt from paying any such license fee
or tax because no ordinance imposing such a fee or tax has been
enacted by the City pursuant to Chapter 82.14 A of the Revised Code
of Washington and further because financial institutions are •expressly
exempt from such a fee or tax by the provision of Section 5.52.050 (j)
. of the City of Yakima Municipal Code, and •
WHEREAS, the City Council of the City of Yakima, exercising
authority granted to it by Chapter 82.14 A of the Revised Code of
Washington, desires to enact this ordinance to impose such a fee or
tax on those financial institutions, now, therefore,
BE IT ORDAINED BY THE CITY OF YAKIMA:
Section 1. Section 5.52.025 is hereby enacted as a new section
of the City of Yakima Municipal Code to read as follows:
"5.2.025 Financial Institutions--License Fee Imposed.
Commencing July 1, 1974, there is hereby levied upon and shall
be collected from every national bank, state bank, trust company,
mutual savings and loan association and every other financial
institution engaged in business in the City, an annual license
fee or tax for the act or privilege of engaging in business.
• The license fee shall be measured by the number of employees
of each such business employed during the twelve month period
immediately preceding the year for which the license fee is
payable according to the schedule and provisions of Section
5.52.030 of this chapter."
Section 2. Section 5.52.050 of the City of Yakima Municipal Code
is hereby amended to read as follows:
"5.52.050 Exemptions. The provisions of this chapter shall
• not apply to:
(a) Any person in respect to engaging in any of the follow-
ing enumerated business activities: franchised electric power,
telephone, gas and passenger transportation companies.
(b) Fraternal benefit societies as defined by Section
48.36.010 of the Revised Code of Washington; fraternal mutual
property insurers as defined by Section 48.36.410 of the Revised
Code of Washington; and non - profit corporations organized under
or existing by virtue of Chapter 24.03 of the Revised Code of
Washington if such non - profit corporations provide in their by-
laws for the assessment of each member of a fixed sum to be held
by the corporation to be paid as death benefits on the death
of a member for the purpose of assisting widows, orphans or other
persons dependent on a deceased member.
(c) Any religious society, association or corporation, through
the operation of any hospital, clinic, resort or other institution
devoted exclusively to the care or healing of human beings; pro-
vided, 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.
(d) Private detective agencies licensed under Chapter 5.62.
(e) Merchant patrolmen licensed under Chapter 5.48.
(f) Auctioneers licensed under Chapter 5.14.
(g) Merry -go- rounds licensed under Chapter 5.02.
(h) Any instrumentality of the United States, State of
Washington, or political subdivision thereof.
(i) Any farmer, gardener or other person who shall sell,
deliver or peddle any fruits, vegetables, berries, butter, eggs,
fish, milk, poultry, meats, or any farm produce or edibles raised,
caught, produced or manufactured by such person within the State
of Washington.
(j) Repealed by Ordinance No.
(k) Newsboys engaged in the sale or delivery of newspapers
and magazines or periodicals to the reading public.
(1) Any blind person engaged in business activities within
the city.
(m) Any person, firm or corporation which the city is pro -
hibited from taxing under the laws of the United States or of
the State of Washington.
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• (n) Any person operating a business as a sole proprietorship
without full or part time employees who devotes less than six
hundred hours a year to said business."
Section 3. This ordinance shall be in full force and effect
11110 thirty days after its passage, approval and publication as provided
by law and by the City Charter.
PASSED BY THE CITY COUNCIL, signed and approved this day
o , 974.
Mayor
ATTEST:
City lerk
•
4110
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