§ 58-61. Financial institutions business license tax; due date; filing of return.

(a)

Tax levied. Pursuant to O.C.G.A. § 48-6-93, there is hereby levied an annual business license tax upon state and national banking associations, federal savings and loan associations, and state building and loan associations a business license tax at the rate of one-fourth of one percent (0.25 percent) of the gross receipts of said institutions. "Gross receipts" shall mean gross receipts 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 section shall be $1,000.00 per year.

(b)

Filing return of gross receipts. 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 section shall be assessed and collected based upon the information provided in said return.

(c)

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

(Prior Code, § 14-56)