(a) "Gross Income" means the value proceeding or accruing from the sale of tangible property or service, and receipts (including all sums earned or charged, whether received or not) by reason of the investment of capital in the business engaged in, including rentals, royalties, fees or other emoluments, however designated (excluding receipts or proceeds from the use or sale of real property or any interest therein, and proceeds from the sale of notes, bonds, mortgages, or other evidences of indebtedness, or stocks and the like) and without any deduction on account of losses.

(b) "Person" or "persons" means persons of either sex, firms, corporations, copartnerships and other associations of natural persons, whether acting by themselves or by servants, agents or employees.

(c) "Tax year" or "taxable year" means the year commencing January 1st and ending on December 31st of the same year or, in lieu thereof, the taxpayer's fiscal year when permission is obtained from the city administrator to use it as the tax year. (Ord. 1879, § 1, 2012; Ord. 810, § 2, 1983.)