§ 10-116. Financial institutions.

(a)

License tax levied. Pursuant to O.C.G.A. § 48-6-93, there is hereby levied, for the year 1993 and for each year thereafter, an annual business license tax upon each state and national banking association, federal savings and loan association and state building and loan association at the rate of twenty-five hundredths of one percent of the gross receipts of said institutions as defined in O.C.G.A. § 48-6-93. Notwithstanding any other provisions of this section, the minimum amount of business license tax due from any depository financial institution pursuant to this article shall be one thousand dollars ($1,000.00) per year.

(b)

Filing of return. Each depository financial institution within the city shall file a return of its gross receipts with the city on March 1 of the year following the year in which such gross receipts were measured. Such returns shall be in the manner and in the form prescribed by the commissioner of the department of banking and shall be based upon the allocation method set forth in O.C.G.A. § 48-6-93(d). The tax levied pursuant to this article shall be assessed and collected based upon the information provided in the return.

(c)

Due date of taxes. The due date of taxes levied by this article shall be April 1 of each subsequent year.

(Ord. No. 43-94, 10-27-94; Ord. No. 49-95, 12-6-95)