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ORDINANCE NO. 15,393
AN ORDINANCE AMENDING ORDINANCE NO. 13,358
OF THE CITY OF LITTLE ROCK PERTAINING TO
LICENSE AND PRIVILEGE TAXES.
580
NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF DIRECTORS OF
THE CITY OF LITTLE ROCK, ARKANSAS:
SECTION 1. Article 1 of Chapter 21 of the Code of
Ordinances of the City of Little Rock, Arkansas pertaining to
License and Privilege Taxes is hereby amended to read as follows:
The language in Section 21 -6. "Employee$' defined
shall be re- numbered as Section 21 -5, sub - paragraph
(a). The existing language in Section 21 -5,
sub - paragraph (a) and sub - paragraph (b), shall be
re- numbered as sub - paragraphs 21 -5(b) and 21 -5(c).
Section 21 -6 shall read as follows:
Section 21 -6 Inventory Operations; how
determined:
a) "Inventory as used in this
article shall be defined as the
quantity of goods or materials on
hand, and shall include all goods,
wares, and merchandise, as
maintained by the business,
including inventory on consignment
which is located within the City.
b) Businesses paying a City of
Little Rock privilege tax based on a
stock or inventory variable will pay
the annual base charge, as otherwise
specified herein; plus a charge
0-ay
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M M M M
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based on the gross value of an
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average of the stock or inventory of
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the business for the preceding year.
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The value of the stock or inventory
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shall be determined as the price
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paid by the business. Said stock or
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inventory information shall be
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furnished to the City Collector in a
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signed statement on a form furnished
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by the City Collector setting forth
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the amount of such average stock or
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inventory. In the initial year of
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operation, the beginning inventory
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amount shall be used.
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c) The privilege tax amount
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which is based on an average of
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stock or inventory by determining
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the value of .5% of stock. This
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figure shall be adjusted by a ratio;
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the numerator of which being the
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Consumer Price Index (CPI) for 1980
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(246.8), and the denominator being
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the CPI for June of the calendar
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year preceding the year for which
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the license fee is being calculated.
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Section 21 -13.1. Schedule of license
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taxes, sub - paragraph (229), shall be
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amended as follows:
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Sub - paragraph number (229) shall be
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retitled as:
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"Retail Inventory Operations,
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unless otherwise specified:"
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BASE and VARIABLE
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50.00 .5% of stock
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581.
® ® 582
1 The entire body of language remaining in (229) shall be
2 deleted.
3 SECTION 2. All laws or parts of laws in conflict therewith
4 are hereby repealed.
5 SECTION 3. This Ordinance shall be in full force and
6 effect January 1, 1988.
7 PASSED: December 9, 1987
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ATTEST:
CITY CLERK JANE TZECH
MARK STODOLA, CITY ATTORNEY
APPROVED:
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