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Home My WebLink AboutOrdinances Book 10, Page 931, No Ordinance Number93� �1 gp AN ORDINANCE AMENDING SECTION 100 OF AN ORDINANCE �1 ENTITLED: "Aid ORDINANCE FIXING AND REGULATING TIIE LICENSE TAXES, y� AND P:IAPlNER AND FORM OF GHAIdTING AND ISSUTPdG SAME ON THE VARIOUS A V) LINES OF BU:;INESS, OCCUPATIONS, PROFESSIONS, TRADES AND CALLINGS kv IN THE CITY OF PADUCAH, KENTUCKY,.AND PROVIDING PENALTIES FOR NON- PAYMENT THEREOF, AND FOR VIOLATION THEREOF, AND MAKING IT UNLAIVFUL TO ENGAGE IN ANY SUCH LINES OF BUSINESS, OCCUPATIONS, PROFESSIONS, TRADES AND CALLINGS I7ITHOUT FIRST PAYING THE LICENSE TAX AND PROCURING LICENSES AS PROVIDED HEREIN", WHICIi ORDINANCE WAS ADOPTED BY THE BOARD OF COMMISSIONERS OF THE CITY OF PADUCAH ON DECEMBER J 30th, 1940, AND SECTION 100 THEREOF AS A14ENDED BY ORDINANCE ADOPTED BY SAID BOARD ON DECEMBER 28th, 1943. BE IT ORDAINED BY THE BOARD OF C014MISSIONERS OF THE CITY OF PADUCAH, KENTUCKY: i �i SECTION 1. `i That Section 100 of an ordinance entitled: "AN ORDII'dANCE FIXING AND REGULATING THE LICENSE TAXES, AND MANNER 1 AND FORM OF GRANTING AND ISSUING SAME ON THE VARIOUS LINES OF EUSINESS, OCCUPATIONS, PROFESSIONS, TRADES AND CALLINGS IN THE 1 CITY OF PADUCAH, KENTUCKY, AND PROVIDING PENALTIES FOR NON-PAYMENTI THEREOF, AND FOR VIOLATION THEREOF, AND MAKING IT UNLAWFUL TO 11� ENGAGE IN ANY SUCH LINES OF BUSINESS, OCCUPATIONS, PROFESSIONS, I I TRADES AND CALLINGS WITHOUT FIRST PAYING THE LICENSE TAX AND PRO- � CURING LICENSES AS PROVIDED HEREIN", which ordinance was adopted 11 by the Board of Commissioners of the City of Paducah on December i 30th, 1940, and Section 100 thereof as amended by ordinance adopted by said Board on December 28th, 1943, be and the same is hereby amended so that said section as amended shall read as follows: SECTION 100- INSURANCE Life Insurance Companies Each life insurance company, including any company doing Industrial life insurance business, shall be required to pay to the City of Paducah a license tax in an amount equal to two (2;,',) percent of all premiums received by it during the current taxable year on or by reason of new policies or new contracts of life, health, accident, and hospitalization insurance issued upon persons residing in the city, but said license tax shall be riot less than :5.00 per year. When computing the amount of license taxes based upon the premium received on a single premium policy and on a short term en- dowment policy, or such other form of Investment insurance where the initial premium received insures the life of an individual for a 932 longer period than one (1) year, a life insurance company shall pad, an amount equal to two (210) percent of that proportion of the premium on said policy which would provide coverage on the life of the insured for a period of only one year. Companies other than Life Each casualty, fire and marine insurance company, mutual insurance company, and Lloyd's organization or reciprocal or Inter - insurance exchange, together with any finance company placing and/or collecting insurance premiums on accounts handled by such company, and also including all companies writing policies covering auto- mobile liability, public liability, general liability, manufacturer's public liability, elevator liability, contractor's liability, house- hold liability, residdnee theft, pay -master robbery, general bur3la.ry bank burglary and robbery, group disability, forgery, mercantile safe burglary, marine, plate glass, messenger or interior robbery, automobile colllisbnn, automobile fire and theft, all forms of surety bonds, fire, flood and hail, and other forms of liabilitym casualty and hazard insurance upon real and personal property, and' with the exception of workmens compensation insurance, all other risks not specifically enumerated herein, shall pay a license tax in an amount equal to trio (21%,) percent of all.premiums received by such company during the current taxable year upon all insurance policies and other contracts of insurance issued. or renewed during said year upon persons residing in or property located within the corporate limits of the city, but said license tax shall be not less than :;,:5.00 a year. The license taxes imposed under the provisions of this section shall be due and payable on January lst of each year, except for the year 1944 said license taxes shall be due and payable on January 5th, 1944. Each life insurance company shall pay on said date an amount equal to the license taxes paid by it during the precedinr, year and the City Treasurer shall issue to said company a license to engage in business from January 1st to December 31st. Leach insurance company,e xcepting a life insurance company, shall pay on said date an amount equal to two (2%) percent of all premiums received by said company during the preceding taxable year upon all insurance policies and other contracts of insurance issued or renewed during said year upon persons residing in or property located within the corporate limits, and the City Treasurer shall issue to said company a license to engage in business from January 1st to December 31st. Said company, excepting a life insurance company, shall also file with the City Treasurer at the time the license taxes are due as herein nrnvir9A,9 .1—i--tt 933 showing the total amount of all premiums received during the preceding year. Within thirty (30) days after December 31st of the current Affilk taxable year each insurance company, including life insurance companies, shall file with the City Treasurer a svo rn stgtement showing the total amount of all premiums received during the year ending December 31st, and, in the event any additional license taxes based upon premiums received during said current taxable year shall then be due, said additional taxes shall be paid on or before February lat. If .it is shown by the sworn statement of any insurance company that the amount paid for a license as herein provided exceeds the amount of the license taxes based upon premiums received during said current taxable year, the City Treasurer shall refund to said company on or before February lat that proportion of the license taxes which exceeds the amount due and payable upon premiums received during the current taxable year. If such license tax is not paid on or before February lat after the same shall become due as herein provided, Wiere shall be added to such license tax a penalty of ten (10) percentum there- of, and any and ail companies paying„ or offering to pay such license taxes after the same have become delinquent, shall also pay said ten (10/) percent penalty thereof. Said license taxes and penalties may be recovered as any other delinquent taxes. In the event of the original application for a license under this section, the company so applying shall pay on January lat a fee of five (?5.00) Dollars to apply on the license tax to engage in business from January lat to December 31st, but said company shall file with the City Treasurer on or before February lat a sworn statement showing the total amount of all premiums received during the year ending December 31st. If additional license taxes based upon premiums received during said current taxable year shall then be duo, said additional taxes shall be paid on or before February lat. SECTION 2. All ordinancesand parts of ordinances in conflict herewith are, to the extent of such conflict, hereby repealed. SECTIOIQ 3. This ordinance shall be in full force and effect from and after its adoption. 934 I { S. 13. Pulliam, mayor Pro em Stuart Joh-"ton, Commissioner Passed b,; the Loard of r.ommissioners, January 4th, 1946 Recorded by Rudy Stewart, City Clerk, January 5th, 1944.