21-43-17 - Classification of businesses for tax purposes; exemption of new businesses.
§ 21-43-17. Classification of businesses for tax purposes; exemption of new businesses.
For purposes of the additional tax to be imposed pursuant to this chapter, the governing authority may make a reasonable classification of businesses, giving consideration to various factors.
Businesses recently established in the area may be exempted from the tax imposed pursuant to this chapter for a period not exceeding one (1) year from the date they commenced business in the area.
Sources: Laws, 1974, ch. 520, § 5, eff from and after July 1, 1974.