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1 873o <br /> <br />AN ORDINANCE TO AMEND SECTIONS 20-53 <br />OF THE CITY OF PORTSMOUTH, VIRGINIA, <br />AND PROFESSIONAL LICENSE TAXES. <br /> <br />AND 20-55 OF THE CODE <br />PERTAINING TO BUSINESS <br /> <br /> BE IT ORDAINED by the Council of the City of <br />Portsmouth, Virginia, that Sections 20-53 and 20-55 of the <br />Code of the City of Portsmouth, Virginia, 1973, be amended <br />to read as follows: <br /> <br />Section 20-53. Financial, real estate and professional <br /> services. <br /> <br /> (a) Every person engaged in financial, real estate <br />or professional services shall pay a business license tax <br />of Fifty dollars ($50.00) on the first Five thousand <br />dollars ($5,000.00) of gross receipts and Fifty nine cents <br />($0.59) on each additional ($100.00) of gross receipts. <br /> <br /> (b) Financial services shall be defined as any <br />person rendering a service for compensation in the form of <br />a credit agency, an investment company, a broker or dealer <br />in securities and commodities or a security or commodity <br />exchange unless such service is specifically provided for <br />in another section of this article. Those engaged in <br />rendering financial services include, but are not limited <br />to, the following: <br /> <br />Buying installment receivables; <br /> <br />Chattel mortgage financing; <br /> <br />Consumer financing; <br /> <br />Credit card services; <br /> <br />Credit unions; <br /> <br />Factors; <br /> <br />Financing accounts receivable; <br /> <br />Industrial loan companies; <br /> <br />Installment financing; <br /> <br />Inventory financing; <br /> <br />Loan or mortgage brokers; <br /> <br />Loan or mortgage companies; <br /> <br /> <br />