No tax shall be levied pursuant to this article on any business whose base year gross
receipts, or gross purchases in the case of wholesale merchants, were less than $300,000.00.
If the base year gross receipts of the licensable business activity are greater than
or equal to $300,000.00 ("license cap fee"), the amount of such gross receipts shall
be reduced by $300,000.00 for the purpose of calculating the applicable tax and the
business shall pay the tax on the reduced amount or a license fee of $10.00, whichever
is greater. The $300,000.00 reduction shall not apply to any estimates made under section 6-24 but shall apply to the correction of such estimates.
(Ord. of 6-23-99, § 1; Ord. of 8-23-00, § 1; Ord. of 9-26-01, § 1; Ord. of 9-22-04(1),
§ 1; Ord. of 8-24-16(6), § 1; Ord. of 12-13-17(1), § 1)
