(1) “Gross income” means the value proceeding or accruing from the sale of tangible property or services, 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 or real property or any interest therein and proceeds from the sale of notes, bonds, mortgages, or other evidences of indebtedness, or stock or the like) and without any deduction on account of the property sold, the cost of materials used, labor costs, interest or discount paid or any expense whatsoever, and without any deduction on account of losses.

(2) “Person or persons” mean all persons, firms, partnerships, corporations and other associations of natural persons, whether acting by themselves or by servants, agents or employees.

(3) “Taxpayer” means any person liable for the license fee and occupation tax imposed by this chapter.

(4) “Tax year” or “taxable year” means the year commencing January 1st and ending on the last day of December of the same year, or, in lieu thereof, the taxpayer’s fiscal year when permission is obtained from the Town Clerk to use the same as the tax period. (Ord. 344-N, §7, 2008)