HomeMy WebLinkAboutORD 4825 Amends ORD 4503
Amended by ORD 4873
CITY OF RENTON, WASHINGTON
ORDINANCE NO. 48 2 5
AN ORDINANCE OF THE CITY OF RENTON, WASHINGTON,
AMENDING CHAPTER 11, UTILITY TAX, OF TITLE V (FINANCE AND
BUSINESS REGULATIONS), OF ORDINANCE NO. 4260 ENTITLED
"CODE OF GENERAL ORDINANCES OF THE CITY OF RENTON,
WASHINGTON" BY ADDING A NEW SECTION ENTITLED
"DEFINITION OF GROSS INCOME" AND RESCINDING SUBSECTION
5-11-1.A.3.
THE CITY COUNCIL OF THE CITY OF RENTON, WASHINGTON, DO ORDAIN
AS FOLLOWS:
SECTION I. Subsection 5-11-1.A.3 of Chapter 11, Utility Tax, of Title V (Finance and
Business Regulations), of Ordinance No. 4260 entitled "Code of General Ordinances of the City
of Renton" is hereby rescinded.
SECTION II. Chapter 11, Utility Tax, of Title V (Finance and Business Regulations),
of Ordinance No. 4260 entitled "Code of General Ordinances of the City of Renton" is hereby
amended by adding the following section which reads as follows:
5-11-3: DEFINITION OF GROSS INCOME.
Gross income shall mean the value proceeding or accruing from the sale of tangible
property or service, and receipts (including all sums earned or charged, whether received or not)
by reason of investment of capital in the business engaged in, including rentals, royalties, fees or
other emoluments, however designated (excluding receipts or proceeds from the use or sale of
real property or any interest therein, and proceeds from the sale of notes, bonds, mortgages or
other evidence of indebtedness, or stocks and the like) and without any deduction on account of
the cost of the property sold, cost of materials used, labor costs, interest or discount paid, taxes,
or any expenses whatsoever, and without any deduction on account of losses. This definition
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ORDINANCE NO. 4 8 2 5
shall apply as of March 1, 2000.
SECTION III. This ordinance will be effective upon its passage, approval and 30
days after publication.
PASSED BY THE CITY COUNCIL this 20th day of December , 1999.
�� cal rnJ
Marilyn J. e t en, City Clerk
APPROVED BY THE MAYOR this 20th day of December , 1999.
Jess; anner, Mayor +�
Approved as legal form:
Lawrence J. Warren, City Attorney
Date of Publication: 12/24/99 (Summary)
ORD.829:12/13/99:as.
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