The license taxes imposed by this Article shall be imposed annually on all phases
of any business activity required to be licensed by this Article. Except as otherwise
provided by this Article or by state law, the annual license tax for each licensable
business activity shall be computed by multiplying annual gross receipts from the
preceding calendar year, as established in accordance with Section 4-7.1-1(c), by the tax rate set forth in this Article which is appropriate for the type of
business, profession, trade, occupation or calling to be licensed. A calendar year
begins on January 1 of each year and ends on December 31 of each year. (33-94-4.)
