1983-53 Exempting Business Inventories from Personal Property Tax9 1 1 ► ^ 1 4 7
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TAX.
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addition of the following section:
Section 3.24.060 Business Inventories Exem t:
(a) Pursuant to AS 2 9.53.025(b), the inventories of businesses
possessing a valid business license from the State of Alaska are
exempt from the tax imposed by this chapter.
(b), As used herein, "inventories" shall mean personal property in
the hands of a retail or wholesale merchant held for sale, lease or
rental, or personal property held in the form of raw materials or
component parts for the
Section 2. The Borough
KODIAK ISLAND BOROUGH
ORDINANCE NO. 83 -53 -0
AN ORDINANCE EXEMPTING BUSINESS INVENTORIES FROM PERSONAL PROPERTY
Section 11. Chapter 3.24 of the Borough Code is amended by the
business inventories in the event
inadequate for municipal needs.
manufacture or production of goods.
retains the power to revert to taxing
that revenues from other sources prove
Section 3. This ordinance shall be in full force and effect upon
passage and approval by the Kodiak Island Borough Assembly and shall apply
to the tax year commencing January 1, 1984.
PASSED AND APPROVED this 1st day of September , 1983.
KODIAK ISLAND BOROUGH
FATTEST:
it
H By
Boroug C
By
oroug ayo
First Reading and Approval Date: Jul 7, 1983
i Second Reading, Public Hearing, Passage Date._ Seotem er 1. 1983
; Effective Date: Janar 1 1984
i Requested by: Phi n•erson